| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| What Do We Gain by Being Discrete? An Introduction to the Econometrics of Discrete Decision Processes | |
| Paola Rota | |
| 发表日期 | 2001 |
| 出处 | Economy and Society |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | In this paper we analyse methods which allow us to estimate and identify the sources of censoring in dynamic models. We explicitly take into account the existence of corner solutions by considering a discrete-time-discrete-choice dynamic structural model. The availability of microeconomic datasets allows us to focus on decisions at the individual level and directly exploit the information contained in the corner solutions. We show how a discrete decision process (DDP) represents a natural framework within which to analyse agents' behaviour when optimal inaction generates censoring in observed decisions. A discrete decision process is characterised by a control variable which only takes a finite number of values. Some problems are naturally discrete, such as the optimal engine replacement or job the search problem in which the individual decides whether or not to accept a job offer. Other problems may be described very efficiently by a discrete decision problem. This is clear in the case of fixed costs of adjusting inputs which imply the discrete decision of whether or not to vary the production factor. |
| 特色分类 | C35,C51 |
| 关键词 | Discrete choice,dynamic models,transition probabilities |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/what-do-we-gain-by-being-discrete-an-introduction-to-the-econometrics-of-discrete-decision-processes/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116625 |
| 推荐引用方式 GB/T 7714 | Paola Rota. What Do We Gain by Being Discrete? An Introduction to the Econometrics of Discrete Decision Processes. 2001. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2001-022.pdf（994KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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