Semiparametric information bound of dynamic discrete choice models
We 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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- Michael P. Keane & Kenneth I. Wolpin, 1995.
"The career decisions of young men,"
559, Federal Reserve Bank of Minneapolis.
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