英语翻译For example,since price and demand are likely tobe simul

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英语翻译
For example,since price and demand are likely to
be simultaneously determined,it may be necessary to treat
the price measure as an endogenous variable.The issue
with using endogenous variables as explanatory variables
is,because the endogenous variables are determined within
the system,they may be correlated with the residual terms.
If this is the case,the use of OLS will result in parameter
estimates that are biased and inconsistent .

Hello,
例如,因为价格和需求可能同时被决定,就有必要把定价措施看作内部变量.把内部变量作为解释性变量的问题就是它们由系统内部决定,可能还与剩余条款密切相关.如果这样的话,与使用普通最小二乘法产生的参数估计,是不一致的.

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