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Identifying Dynamic Discrete Decision Processes
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Book Synopsis Identifying Dynamic Discrete Decision Processes by : Thierry Magnac
Download or read book Identifying Dynamic Discrete Decision Processes written by Thierry Magnac and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we analyse the non parametric identification of dynamic discrete choice models using short-panel data. Our identification methodology is based on the ideas explored in the seminal paper of Hotz and Miller (1993) that Bellman equations can be interpreted as moment conditions. We derive the exact degree of underidentification of these models both in the case where random shocks on preferences are independent over time and in a case with correlated fixed effects. We investigate the necessity and power of various identifying restrictions.
Book Synopsis Another Look at the Identification of Dynamic Discrete Decision Processes by : Victor Aguirregabiria
Download or read book Another Look at the Identification of Dynamic Discrete Decision Processes written by Victor Aguirregabiria and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an econometric approach to estimate the behavioral effects of counterfactual policy experiments in the context of dynamic decision models where the current utility function and the distribution of unobservables are nonparametrically specified. Previous studies have shown that the identification of the current utility function in dynamic decision models requires of stronger assumptions than in static decision models. We show in this paper that knowledge of the current utility function (or of a normalized utility function) is not necessary to identify counterfactual choice probabilities in dynamic models. To identify these counterfactuals we need the probability distribution of the unobservables and the difference between the present value of choosing always the same alternative and the present value of deviating one period from this strategy. We show that both functions are identified from the factual choice probabilities under similar conditions as in static decision models. Based on this result we propose a nonparametric procedure to estimate the behavioral effects of counterfactual experiments in dynamic decision models. We apply this method to evaluate the effects of an investment subsidy program in the context of a model of machine replacement.
Book Synopsis Another Look at the Identification of Dynamic Discrete Decision Processes by : Victor Aguirregabiria
Download or read book Another Look at the Identification of Dynamic Discrete Decision Processes written by Victor Aguirregabiria and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper deals with the estimation of the behavioral and welfare effects of counterfactual policy interventions in dynamic structural models where all the primitive functions are nonparametrically specified (i.e., preferences, technology, transition rules, and distribution of unobserved variables). It proves the nonparametric identification of agents' decision rules, before and after the policy intervention, and of the change in agents' welfare. Based on these results we propose a nonparametric procedure to estimate the behavioral and welfare effects of a general class of counterfactual policy interventions. The nonparametric estimator can be used to construct a test of the validity of a particular parametric specification. We apply this method to evaluate hypothetical reforms in the rules of a public pension system using a model of retirement behavior and a sample of workers in Sweden.
Book Synopsis What Do We Gain by Being Discrete? by : Paola Rota
Download or read book What Do We Gain by Being Discrete? written by Paola Rota and published by . This book was released on 2001 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Nonparametric Identification of Behavioral Responses to Counterfactual Policy Interventions in Dynamic Discrete Decision Processes by : Victor Aguirregabiria
Download or read book Nonparametric Identification of Behavioral Responses to Counterfactual Policy Interventions in Dynamic Discrete Decision Processes written by Victor Aguirregabiria and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper deals with identification in dynamic discrete decision processes. It shows the nonparametric identification of the behavioral responses to counterfactual policy interventions that modify the one-period utility function.
Book Synopsis Dynamic Decision Theory by : G. Haag
Download or read book Dynamic Decision Theory written by G. Haag and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choice processes appear in all spheres of society. Hitherto ruling paradigms in the modelling of choice problems have presumed a competitive general equi librium which, however, proves insufficient for dynamic processes. This contribution aims at providing a general coherent and closed frame work for the dynamic modelling of decision processes. It was one of my main interests to build a bridge between the pure model building concepts and their practical applications. Therefore all given examples are related to empirical work. Solution algorithms for the estimation of trend parameters as well as the numerical simulation in concrete applications therefore playa central role in this contribution. Friendly relations with a number of colleagues from many universities in Europe, and the U.S. have emerged during the different applications. I wish to thank all of them. The international cooperations were mainly initiated and supported by conferences and workshops organized and financed by the International Institute for Applied Systems Analysis (lIASA), the Istituto Ricerche Economico-Sociali Del Piemonte (I RES). the Institut National D 'Etudes De'mographiques (I NED), the Centre for Regional Science Research UmeJ. (CERUM) and the Projets de Cooperation et D'Echange avec France (Procop>' Special thanks go to the Volkswagen Stiftung for financial support of this work over the years. Thanks also go in particular to my friend and mentor Prof. W. Weidlich for his encouragement and for the many suggestions he made in fruitful discus sions and common work that have taken place over the years.
Book Synopsis Discrete Choice Methods with Simulation by : Kenneth Train
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.
Book Synopsis Markov Decision Processes by : Martin L. Puterman
Download or read book Markov Decision Processes written by Martin L. Puterman and published by John Wiley & Sons. This book was released on 2014-08-28 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Wiley-Interscience Paperback Series consists of selected books that have been made more accessible to consumers in an effort to increase global appeal and general circulation. With these new unabridged softcover volumes, Wiley hopes to extend the lives of these works by making them available to future generations of statisticians, mathematicians, and scientists. "This text is unique in bringing together so many results hitherto found only in part in other texts and papers. . . . The text is fairly self-contained, inclusive of some basic mathematical results needed, and provides a rich diet of examples, applications, and exercises. The bibliographical material at the end of each chapter is excellent, not only from a historical perspective, but because it is valuable for researchers in acquiring a good perspective of the MDP research potential." —Zentralblatt fur Mathematik ". . . it is of great value to advanced-level students, researchers, and professional practitioners of this field to have now a complete volume (with more than 600 pages) devoted to this topic. . . . Markov Decision Processes: Discrete Stochastic Dynamic Programming represents an up-to-date, unified, and rigorous treatment of theoretical and computational aspects of discrete-time Markov decision processes." —Journal of the American Statistical Association
Book Synopsis Handbook of Econometrics by : James Joseph Heckman
Download or read book Handbook of Econometrics written by James Joseph Heckman and published by Elsevier. This book was released on 2007 with total page 1013 pages. Available in PDF, EPUB and Kindle. Book excerpt: As conceived by the founders of the Econometric Society, econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in this volume embody this vision and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice ...
Book Synopsis Inverse Dynamic Game Methods for Identification of Cooperative System Behavior by : Inga Charaja, Juan Jairo
Download or read book Inverse Dynamic Game Methods for Identification of Cooperative System Behavior written by Inga Charaja, Juan Jairo and published by KIT Scientific Publishing. This book was released on 2021-07-12 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work addresses inverse dynamic games, which generalize the inverse problem of optimal control, and where the aim is to identify cost functions based on observed optimal trajectories. The identified cost functions can describe individual behavior in cooperative systems, e.g. human behavior in human-machine haptic shared control scenarios.
Book Synopsis Handbook of Econometrics by : James J. Heckman
Download or read book Handbook of Econometrics written by James J. Heckman and published by Elsevier. This book was released on 2009-01-13 with total page 1057 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Structural Econometric Models by : Eugene Choo
Download or read book Structural Econometric Models written by Eugene Choo and published by Emerald Group Publishing. This book was released on 2013-12-18 with total page 447 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on recent developments in the use of structural econometric models in empirical economics. The first part looks at recent developments in the estimation of dynamic discrete choice models. The second part looks at recent advances in the area empirical matching models.
Book Synopsis The Econometrics of Panel Data by : Lászlo Mátyás
Download or read book The Econometrics of Panel Data written by Lászlo Mátyás and published by Springer Science & Business Media. This book was released on 2008-04-06 with total page 966 pages. Available in PDF, EPUB and Kindle. Book excerpt: This restructured, updated Third Edition provides a general overview of the econometrics of panel data, from both theoretical and applied viewpoints. Readers discover how econometric tools are used to study organizational and household behaviors as well as other macroeconomic phenomena such as economic growth. The book contains sixteen entirely new chapters; all other chapters have been revised to account for recent developments. With contributions from well known specialists in the field, this handbook is a standard reference for all those involved in the use of panel data in econometrics.
Book Synopsis Handbook of Industrial Organization by :
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 :Compiled by the British Library of Political and Economic Science Publisher :Routledge ISBN 13 :1134340036 Total Pages :675 pages Book Rating :4.1/5 (343 download)
Book Synopsis IBSS: Economics: 2002 Vol.51 by : Compiled by the British Library of Political and Economic Science
Download or read book IBSS: Economics: 2002 Vol.51 written by Compiled by the British Library of Political and Economic Science and published by Routledge. This book was released on 2013-05-13 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1952, the International Bibliography of the Social Sciences (anthropology, economics, political science, and sociology) is well established as a major bibliographic reference for students, researchers and librarians in the social sciences worldwide. Key features * Authority: Rigorous standards are applied to make the IBSS the most authoritative selective bibliography ever produced. Articles and books are selected on merit by some of the world's most expert librarians and academics. *Breadth: today the IBSS covers over 2000 journals - more than any other comparable resource. The latest monograph publications are also included. *International Coverage: the IBSS reviews scholarship published in over 30 languages, including publications from Eastern Europe and the developing world. *User friendly organization: all non-English titles are word sections. Extensive author, subject and place name indexes are provided in both English and French. Place your standing order now for the 2003 volumes of the the IBSS Anthropology: 2002 Vol.48 December 2003: 234x156: Hb: 0-415-32634-6: £195.00 Economics: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32635-4: £195.00 Political Science: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32636-2: £195.00 Sociology: 2002 Vol.52 December 2003: 234x156: Hb: 0-415-32637-0: £195.00
Book Synopsis Econometric Models For Industrial Organization by : Matthew Shum
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.
Book Synopsis The New Palgrave Dictionary of Economics by :
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
