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On the Structure of Behavioral Multistate Duration Models

Author

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  • Dagsvik, J.K.

Abstract

This paper proposes a particular behavioral assumption to characterize the stochastic structure of intertemporal discrete choice models in the absence of state dependence. This assumption extends Luce's axiom; "Independence from Irrelevant Alternatives", to the intertemporal context. Under certain regularity conditions the implication of this assumption is that the individual choice process is a Markov chain with transition probabilities that have a particularly simple structure.

Suggested Citation

  • Dagsvik, J.K., 1998. "On the Structure of Behavioral Multistate Duration Models," Memorandum 11/1998, Oslo University, Department of Economics.
  • Handle: RePEc:hhs:osloec:1998_011
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    File URL: https://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/1998/Memo-11-1998.pdf
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    Cited by:

    1. Dagsvik, John K., 2006. "Justifying Functional Forms in Models for Transitions between Discrete States, with Particular Reference to Employment-Unemployment Dynamics," Memorandum 06/2006, Oslo University, Department of Economics.

    More about this item

    Keywords

    MODELS;

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General

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