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Download or read book Estimation of Dynamic Discrete Choice Models in Continuous Time! written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estimation of Dynamic Discrete Choice Models in Continuous Time with an Application to Retail Competition written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter Arcidiacono
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Estimation of Dynamic Discrete Choice Models in Continuous Time with an Application to Retail Competition written by Peter Arcidiacono and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a dynamic model of retail competition and uses it to study the impact of the expansion of a new national competitor on the structure of urban markets. In order to accommodate substantial heterogeneity (both observed and unobserved) across agents and markets, the paper first develops a general framework for estimating and solving dynamic discrete choice models in continuous time that is computationally light and readily applicable to dynamic games. In the proposed framework, players face a standard dynamic discrete choice problem at decision times that occur stochastically. The resulting stochastic-sequential structure naturally admits the use of CCP methods for estimation and makes it possible to compute counterfactual simulations for relatively high-dimensional games. The model and method are applied to the retail grocery industry, into which Wal-Mart began rapidly expanding in the early 1990s, eventually attaining a dominant position. We find that Wal-Mart's expansion into groceries came mostly at the expense of the large incumbent supermarket chains, rather than the single-store outlets that bore the brunt of its earlier conquest of the broader general merchandise sector. Instead, we find that independent grocers actually thrive when Wal-Mart enters, leading to an overall reduction in market concentration. These competitive effects are strongest in larger markets and those into which Wal-Mart expanded most rapidly, suggesting a diminishing role of scale and a greater emphasis on differentiation in this previously mature industry.
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 : 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 : 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 : 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 : Christian Gouriéroux
Publisher : OUP Oxford
ISBN 13 : 019152509X
Total Pages : 190 pages
Book Rating : 4.1/5 (915 download)
Download or read book Simulation-based Econometric Methods written by Christian Gouriéroux and published by OUP Oxford. This book was released on 1997-01-09 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces a new generation of statistical econometrics. After linear models leading to analytical expressions for estimators, and non-linear models using numerical optimization algorithms, the availability of high- speed computing has enabled econometricians to consider econometric models without simple analytical expressions. The previous difficulties presented by the presence of integrals of large dimensions in the probability density functions or in the moments can be circumvented by a simulation-based approach. After a brief survey of classical parametric and semi-parametric non-linear estimation methods and a description of problems in which criterion functions contain integrals, the authors present a general form of the model where it is possible to simulate the observations. They then move to calibration problems and the simulated analogue of the method of moments, before considering simulated versions of maximum likelihood, pseudo-maximum likelihood, or non-linear least squares. The general principle of indirect inference is presented and is then applied to limited dependent variable models and to financial series.
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:
Author : Peter Arcidiacono
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (135 download)
Download or read book Identification and Estimation of Continuous-Time Job Search Models with Preference Shocks written by Peter Arcidiacono and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper applies some of the key insights of dynamic discrete choice models to continuous-time job search models. We propose a novel framework that incorporates preference shocks into search models, resulting in a tight connection between value functions and conditional choice probabilities. Including preference shocks allows us to establish constructive identification of all the model parameters. Our method also makes it possible to estimate rich nonstationary job search models in a simple and tractable way, without having to solve any differential equations. We apply our framework to rich longitudinal data from Hungarian administrative records, allowing for nonstationarities in offer arrival rates, wage offers, and in the flow payoff of unemployment. Longer unemployment durations are associated with substantially worse wage offers and lower offer arrival rates, which results in accepted wages falling over time.
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 : Caspar G. Chorus
Publisher : Springer Science & Business Media
ISBN 13 : 3642291503
Total Pages : 60 pages
Book Rating : 4.6/5 (422 download)
Download or read book Random Regret-based Discrete Choice Modeling written by Caspar G. Chorus and published by Springer Science & Business Media. This book was released on 2012-04-07 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This tutorial presents a hands-on introduction to a new discrete choice modeling approach based on the behavioral notion of regret-minimization. This so-called Random Regret Minimization-approach (RRM) forms a counterpart of the Random Utility Maximization-approach (RUM) to discrete choice modeling, which has for decades dominated the field of choice modeling and adjacent fields such as transportation, marketing and environmental economics. Being as parsimonious as conventional RUM-models and compatible with popular software packages, the RRM-approach provides an alternative and appealing account of choice behavior. Rather than providing highly technical discussions as usually encountered in scholarly journals, this tutorial aims to allow readers to explore the RRM-approach and its potential and limitations hands-on and based on a detailed discussion of examples. This tutorial is written for students, scholars and practitioners who have a basic background in choice modeling in general and RUM-modeling in particular. It has been taken care of that all concepts and results should be clear to readers that do not have an advanced knowledge of econometrics.
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 : Hanming Fang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Estimating Dynamic Discrete Choice Models with Hyperbolic Discounting, with an Application to Mammography Decisions written by Hanming Fang and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We extend the semiparametric estimation method for dynamic discrete choice models using Hotz and Miller's (Review of Economic Studies 60 (1993), 497-529) conditional choice probability approach to the setting where individuals may have hyperbolic discounting time preferences and may be naive about their time inconsistency. We illustrate the proposed identification and estimation method with an empirical application of adult women's decisions to undertake mammography to evaluate the importance of present bias and naivety in the underutilization of this preventive health care. Our results show evidence for both present bias and naivety.
Author :
Publisher : Elsevier
ISBN 13 : 0323915140
Total Pages : 788 pages
Book Rating : 4.3/5 (239 download)
Download or read book Handbook of Industrial Organization written by and published by Elsevier. This book was released on 2021-12-09 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Industrial Organization, Volume Four highlights new advances in the field, with this new volume presenting interesting chapters written by an international board of expert authors. Presents authoritative surveys and reviews of advances in theory and econometrics Reviews recent research on capital raising methods and institutions Includes discussions on developing countries
Author : Daron Acemoglu
Publisher : Cambridge University Press
ISBN 13 : 1107717825
Total Pages : 633 pages
Book Rating : 4.1/5 (77 download)
Download or read book Advances in Economics and Econometrics: Volume 3, Econometrics written by Daron Acemoglu and published by Cambridge University Press. This book was released on 2013-05-13 with total page 633 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the third of three volumes containing edited versions of papers and commentaries presented at invited symposium sessions of the Tenth World Congress of the Econometric Society, held in Shanghai in August 2010. The papers summarize and interpret key developments in economics and econometrics, and they discuss future directions for a wide variety of topics, covering both theory and application. Written by the leading specialists in their fields, these volumes provide a unique, accessible survey of progress on the discipline. The first volume primarily addresses economic theory, with specific focuses on nonstandard markets, contracts, decision theory, communication and organizations, epistemics and calibration, and patents.
Author : Econometric Society. World Congress
Publisher : Cambridge University Press
ISBN 13 : 1107016061
Total Pages : 633 pages
Book Rating : 4.1/5 (7 download)
Download or read book Advances in Economics and Econometrics written by Econometric Society. World Congress and published by Cambridge University Press. This book was released on 2013-05-27 with total page 633 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third volume of edited papers from the Tenth World Congress of the Econometric Society 2010.
