Table 4. Nonlinear Two-Stage Least Squares Estimates of the NEIO Model
Parameter |
Symbol |
Estimate |
Standard error |
p-value |
Industry conjectural variation |
Θ |
-0.94 |
0.19 |
0.0004 |
Processor’s pricing equation |
a0 |
-4.76 |
2.31 |
0.0633 |
Coefficient for packer’s marginal |
a1 |
13.06 |
34.04 |
0.7085 |
Price markdown |
2.7 |
36