Flexible Modelling of Time to Failure in Risky Careers
AbstractFailure time models correcting for heterogeneity are used to explain the length of participation in a risky career. Using data from t he National Football League, the authors first employ a class of techniques whic h ignore unobserved heterogeneity; hence these methods impose severe restriction s on the estimated hazard. The authors then examine a second class of techniques which correct for unobserv-ables and thereby allow greater flexibility in the e stimated hazard. Within this second class, they find that the estimated hazard u sing the Burr-12 density is much more accurate than densities in the first class , which include the exponential and Weibull. They expect that this density could be employed to successfully explain career duration in other high-risk, high-st resscareers as well. Copyright 1986 by MIT Press.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics & Statistics.
Volume (Year): 68 (1986)
Issue (Month): 4 (November)
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- Bernd Frick & Gunnar Pietzner & Joachim Prinz, 2007. "Career Duration a Competitive Environment: The Labor Market for Soccer Players in Germany," Eastern Economic Journal, Eastern Economic Association, vol. 33(3), pages 429-442, Summer.
- Marcel-Cristian Voia & Mihailo Radoman, 2013. "Youth Training Programs and their Impact on Career and Spell Duration of Professional Soccer Players," Carleton Economic Papers 13-01, Carleton University, Department of Economics.
- Stefan Goeke & Joachim Prinz & Daniel Weimar, 2014. "Diamonds are Forever: Job-Matching and Career Success of Young Workers," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 234(4), pages 450-473, July.
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