Econometric Analysis of Sequential Discrete Choice Models
AbstractThis paper specifies an estimable dynamic model of sequential discrete choices in a controlled jump-process framework. We study sufficient conditions under which the agent's optimal policy is stationary. We show that the observable event histories at the micro-level are sample semi-Markovian. We provide, for the first time, sufficient and necessary conditions under which the destination-specific hazard functions belong to the proportional hazard family. We propose a computing algorithm for statistical inference of the structural parameters from longitudinal survey data.
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Bibliographic InfoPaper provided by Duke University, Department of Economics in its series Working Papers with number 95-55.
Date of creation: 1995
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