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Structural Estimation of Psychiatric Hospital Stays

Author

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  • Gordana Colby
  • Raul Rilstone

Abstract

This paper develops and estimates a structural model to explain lengths of stay of psychiatric patients as the joint decision of patients and caregivers. The hazard rates are estimated using Weibull specifications for the duration dependence and a multivariate version of the Gamma distribution to allow for unobserved and correlated heterogeneity. The main results indicate that the hazard rate for the caregivers' is increasing while that for the patients' is decreasing. Moreover, the older the patient is, the lower is the hazard rate for both patients and caregivers. This model can also be applied to many retirement and aging decisions including: time to retirement between spouses, financial planning, and health related retirement decisions.

Suggested Citation

  • Gordana Colby & Raul Rilstone, 2000. "Structural Estimation of Psychiatric Hospital Stays," Social and Economic Dimensions of an Aging Population Research Papers 32, McMaster University.
    • Handle: RePEc:mcm:sedapp:32
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    Cited by:

    1. Gordana Paric & Paul Rilstone, 2000. "Nonparametric Identification of Latent Competing Risks and Roy Duration Models," Econometric Society World Congress 2000 Contributed Papers 0716, Econometric Society.

    More about this item

    Keywords

    psychiatric; hazard rate;

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies

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