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Empirical Applications of Discrete Choice Dynamic Programming Models

  • Michael P. Keane

    (Arizona State University)

  • Kenneth I. Wolpin

    (University of Pennsylvania)

The development over the past 25 years of methods for the estimation of discrete choice dynamic programming (DCDP) models opened up new frontiers for empirical research in a host of areas, including labor economics, industrial organization, economic demography, health economics, development economics, political economy and marketing. In this paper, we first describe the development of the DCDP framework, showing how it was a natural extension of static discrete choice modeling. We then summarize six papers that adopt the DCDP paradigm that address substantively important social and economic questions. Finally, we consider the issue of the credibility of empirical findings based on the structural estimation of DCDP models. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/j.red.2008.07.001
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 12 (2009)
Issue (Month): 1 (January)
Pages: 1-22

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Handle: RePEc:red:issued:08-8
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  16. Behrman, Jere R & Sengupta, Piyali & Todd, Petra, 2005. "Progressing through PROGRESA: An Impact Assessment of a School Subsidy Experiment in Rural Mexico," Economic Development and Cultural Change, University of Chicago Press, vol. 54(1), pages 237-75, October.
  17. Donghoon Lee & Kenneth I. Wolpin, 2004. "Intersectoral Labor Mobility and the Growth of the Service Sector," PIER Working Paper Archive 04-036, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  18. Finis Welch, 2000. "Growth in Women's Relative Wages and in Inequality among Men: One Phenomenon or Two?," American Economic Review, American Economic Association, vol. 90(2), pages 444-449, May.
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  21. Leibowitz, Arleen, 1974. "Home Investments in Children," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages S111-S131, Part II, .
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  28. Keane, Michael P & Wolpin, Kenneth I, 2001. "The Effect of Parental Transfers and Borrowing Constraints on Educational Attainment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(4), pages 1051-1103, November.
  29. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75, pages 352.
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  31. Raquel Bernal & Michael P. Keane, 2011. "Child Care Choices and Children’s Cognitive Achievement: The Case of Single Mothers," Journal of Labor Economics, University of Chicago Press, vol. 29(3), pages 459 - 512.
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