Semiparametric information bound of dynamic discrete choice models
AbstractWe develop a simulation based approach that can determine whether the semiparametric efficiency bound of a dynamic discrete choice model with fixed effects is zero or not. We illustrate the usefulness of our approach by considering a simplified version of Keane and Wolpin's (1997) model, where we show that the semiparametric information is zero.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 108 (2010)
Issue (Month): 2 (August)
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Web page: http://www.elsevier.com/locate/ecolet
Dynamic discrete choice models with fixed effects Semiparametric efficiency bound Simulation based test;
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- Michael P. Keane & Kenneth I. Wolpin, 1995.
"The career decisions of young men,"
559, Federal Reserve Bank of Minneapolis.
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