This paper develops a new method for estimating the structural parameters of (discrete choice) dynamic programming problems. They show the valuation functions characterizing the expected future utility associated with the choices often can be represented as an easily computed function of the...

This paper develops and implements a semiparametric estimator for investigating, with panel data, the importance of human capital and time nonseparable preferences to females when aggregate shocks are present. It provides a set of conditions for making statistical inferences about agents'...

This paper is an empirical investigation of equilibrium restrictions on household consumption and male labor supply. It exploits a simple factor structure, rationalized by two assumptions, that household allocations are Pareto optimal and that the labor market is competitive. The paper estimates...

This paper examines household fertility and female labor supply over the life cycle. The authors investigate ho w maternal time and market inputs, and benefits children yield their parents, vary with their ages and influence female labor supply and c ontraceptive behavior. Their econometric...

This paper analyzes a monopolist that markets successive generations of new and improving nondurable products. Prices, research intensity, and product innovations are derived as sequential equilibrium outcomes to a dynamic game with incomplete information. Asymmetric information is an important...

The estimation of nonstationary dynamic discrete choice models typically requires making assumptions far beyond the length of the data. We extend the class of dynamic discrete choice models that require only a few‐period‐ahead conditional choice probabilities, and develop algorithms to...

"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. We develop a directed search model of relationship formation which can disentangle male and female preferences for types of partners and...