Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Download Conditional Choice Probabilities And The Estimation Of Dynamic Discrete Choice Models full books in PDF, epub, and Kindle. Read online Conditional Choice Probabilities And The Estimation Of Dynamic Discrete Choice Models ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author : V. Joseph Hotz
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (255 download)
Download or read book Conditional Choice Probabilities and the Estimation of Dynamic Discrete Choice Models written by V. Joseph Hotz and published by . This book was released on 1988 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : V. Joseph Hotz
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (313 download)
Download or read book Conditional Choice Probabilities and the Estimation of Dynamic Models written by V. Joseph Hotz and published by . This book was released on 1992 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wayne-Roy Gayle
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (13 download)
Download or read book CCP Estimation of Dynamic Discrete/Continuous Choice Models with Generalized Finite Dependence and Correlated Unobserved Heterogeneity written by Wayne-Roy Gayle and published by . This book was released on 2017 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates conditional choice probability estimation of dynamic structural discrete and continuous choice models. I extend the concept of finite dependence in a way that accommodates non-stationary, irreducible transition probabilities. I show that under this new definition of finite dependence, one-period dependence is obtainable in any dynamic structural model with non-degenerate transition functions. This finite dependence property also provides a convenient and computationally cheap representation of the optimality conditions for the continuous choice variables. I allow for discrete-valued unobserved heterogeneity in utilities, transition probabilities, and production functions. The unobserved heterogeneity may be correlated with the observable state variables. I show the estimator is root-n--asymptotically normal. I develop a new and computationally cheap algorithm to compute the estimator, and analyse the finite sample properties of this estimator via Monte Carlo techniques. I apply the proposed method to estimate a model of education and labor supply choices to investigate properties of the distribution of returns to education, using data from the National Longitudinal Survey of Youth 1979.
Author : Christophe Alain Bruneel-Zupanc
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)
Download or read book Discrete-continuous Dynamic Choice Models: Identification and Conditional Choice Probability Estimation written by Christophe Alain Bruneel-Zupanc and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kenneth Train
Publisher : Cambridge University Press
ISBN 13 : 0521766559
Total Pages : 399 pages
Book Rating : 4.5/5 (217 download)
Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2009-07-06 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.
Author : Khai Chiong
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (13 download)
Download or read book Duality in Dynamic Discrete Choice Models written by Khai Chiong and published by . This book was released on 2016 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using results from convex analysis, we investigate a novel approach to identification and estimation of discrete choice models which we call the “Mass Transport Approach” (MTA). We show that the conditional choice probabilities and the choice specific payoffs in these models are related in the sense of conjugate duality, and that the identification problem is a mass transport problem. Based on this, we propose a new two-step estimator for these models; interestingly, the first step of our estimator involves solving a linear program which is identical to the classic assignment (two-sided matching) game of Shapley and Shubik (1971). The application of convex-analytic tools to dynamic discrete choice models, and the connection with two-sided matching models, is new in the literature.
Author : David A. Hensher
Publisher : Routledge
ISBN 13 : 1351140744
Total Pages : 280 pages
Book Rating : 4.3/5 (511 download)
Download or read book Applied Discrete-Choice Modelling written by David A. Hensher and published by Routledge. This book was released on 2018-04-09 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1981. Discrete-choice modelling is an area of econometrics where significant advances have been made at the research level. This book presents an overview of these advances, explaining the theory underlying the model, and explores its various applications. It shows how operational choice models can be used, and how they are particularly useful for a better understanding of consumer demand theory. It discusses particular problems connected with the model and its use, and reports on the authors’ own empirical research. This is a comprehensive survey of research developments in discrete choice modelling and its applications.
Author : Victor Aguirregabiria
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (95 download)
Download or read book Solution and Estimation of Dynamic Discrete Choice Structural Models Using Euler Equations written by Victor Aguirregabiria and published by . This book was released on 2016 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends the Euler Equation (EE) representation of dynamic decision problems to a general class of discrete choice models and shows that the advantages of this approach apply not only to the estimation of structural parameters but also to the computation of a solution and to the evaluation of counterfactual experiments. We use a choice probabilities representation of the discrete decision problem to derive marginal conditions of optimality with the same features as the standard EEs in continuous decision problems. These EEs imply a fixed point mapping in the space of conditional choice values, that we denote the Euler equation-value (EE-value) operator. We show that, in contrast to Euler equation operators in continuous decision models, this operator is a contraction. We present numerical examples that illustrate how solving the model by iterating in the EE-value mapping implies substantial computational savings relative to iterating in the Bellman equation (that requires a much larger number of iterations) or in the policy function (that involves a costly valuation step). We define a sample version of the EE-value operator and use it to construct a sequence of consistent estimators of the structural parameters, and to evaluate counterfactual experiments. The computational cost of evaluating this sample-based EE-value operator increases linearly with sample size, and provides an unbiased (in finite samples) and consistent estimator the counterfactual. As such there is no curse of dimensionality in the consistent estimation of the model and in the evaluation of counterfactual experiments. We illustrate the computational gains of our methods using several Monte Carlo experiments.
Author : Kenneth Train
Publisher : Cambridge University Press
ISBN 13 : 9780521017152
Total Pages : 346 pages
Book Rating : 4.0/5 (171 download)
Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2003-01-13 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of contents
Author : Matthew Shum
Publisher : World Scientific
ISBN 13 : 981310967X
Total Pages : 154 pages
Book Rating : 4.8/5 (131 download)
Download or read book Econometric Models For Industrial Organization written by Matthew Shum and published by World Scientific. This book was released on 2016-12-14 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Models for Industrial Organization focuses on the specification and estimation of econometric models for research in industrial organization. In recent decades, empirical work in industrial organization has moved towards dynamic and equilibrium models, involving econometric methods which have features distinct from those used in other areas of applied economics. These lecture notes, aimed for a first or second-year PhD course, motivate and explain these econometric methods, starting from simple models and building to models with the complexity observed in typical research papers. The covered topics include discrete-choice demand analysis, models of dynamic behavior and dynamic games, multiple equilibria in entry games and partial identification, and auction models.
Author : Stephane Hess
Publisher : Edward Elgar Publishing
ISBN 13 : 1800375638
Total Pages : 797 pages
Book Rating : 4.8/5 (3 download)
Download or read book Handbook of Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2024-06-05 with total page 797 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thoroughly revised second edition Handbook provides an authoritative and in-depth overview of choice modelling, covering essential topics range from data collection through model specification and estimation to analysis and use of results. It aptly emphasises the broad relevance of choice modelling when applied to a multitude of fields, including but not limited to transport, marketing, health and environmental economics.
Author : Victor Aguirregabiria
Publisher : London : Department of Economics, University of Western Ontario
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)
Download or read book Estimation of Dynamic Decision Models with Corner Solutions written by Victor Aguirregabiria and published by London : Department of Economics, University of Western Ontario. This book was released on 1996 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter Arcidiacono
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (813 download)
Download or read book Estimation of Dynamic Discrete Choice Models in Continuous Time written by Peter Arcidiacono and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a method for estimating large-scale dynamic discrete choice models within a continuous time framework. An advantage of our model is that state changes occur sequentially, rather than simultaneously, avoiding a substantial curse of dimensionality that arises in multi-agent settings. Eliminating this computational bottleneck is the key to providing a seamless link between estimating the model and performing post-estimation counterfactuals. While recently developed two-step estimation techniques have made it possible to estimate large-scale problems, solving for equilibria remains computationally challenging. By modeling decisions in continuous time, we are able to take advantage of the recent advances in estimation while preserving a tight link between estimation and policy experiments. We address the most commonly encountered situation in empirical work in which only discrete-time data are available and the actual sequence of events that occur between two points in time is unobserved. We apply our techniques to examine the effects of Walmart's entry into the retail grocery industry, showing that even the threat of entry by Walmart has a substantial effect on market structure.
Author : Phillipp Eisenhauer
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (894 download)
Download or read book Estimation of Dynamic Discrete Choice Models by Maximum Likelihood and the Simulated Method of Moments written by Phillipp Eisenhauer and published by . This book was released on 2014 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We compare the performance of maximum likelihood (ML) and simulated method of moments (SMM) estimation for dynamic discrete choice models. We construct and estimate a simplified dynamic structural model of education that captures some basic features of educational choices in the United States in the 1980s and early 1990s. We use estimates from our model to simulate a synthetic dataset and assess the ability of ML and SMM to recover the model parameters on this sample. We investigate the performance of alternative tuning parameters for SMM.
Author : Myrto Kalouptsidi
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (15 download)
Download or read book Linear IV Regression Estimators for Structural Dynamic Discrete Choice Models written by Myrto Kalouptsidi and published by . This book was released on 2018 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: In structural dynamic discrete choice models, the presence of serially correlated unobserved states and state variables that are measured with error may lead to biased parameter estimates and misleading inference. In this paper, we show that instrumental variables can address these issues, as long as measurement problems involve state variables that evolve exogenously from the perspective of individual agents (i.e., market-level states). We define a class of linear instrumental variables estimators that rely on Euler equations expressed in terms of conditional choice probabilities (ECCP estimators). These estimators do not require observing or modeling the agent’s entire information set, nor solving or simulating a dynamic program. As such, they are simple to implement and computationally light. We provide constructive identification arguments to identify the model primitives, and establish the consistency and asymptotic normality of the estimator. A Monte Carlo study demonstrates the good finite-sample performance of the ECCP estimator in the context of a dynamic demand model for durable goods.
Author : Victor Aguirregabiria
Publisher : London : Department of Economics, University of Western Ontario
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (318 download)
Download or read book Estimation of Dynamic Programming Models with Censored Dependent Variables written by Victor Aguirregabiria and published by London : Department of Economics, University of Western Ontario. This book was released on 1997 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ben Waltmann
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Essays on the Simulation-based Estimation of Dynamic Discrete Choice Models written by Ben Waltmann and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
