the rational model specifications exhibits good performance. We identify potential sources of misspecification for the …

resorted to simulation-based methods mostly using some form of simulated method of moments estimation (SMM). There is, however …

This paper offers a simulation-based method for the estimation of heuristic switching in nonlinear macroeconomic models …. Heuristic switching is an important feature of modeling strategy since it uses simple decision rules of boundedly rational … heterogeneous agents. The simulation study shows that the proposed simulated maximum likelihood method identifies the behavioral …

This collection of methodological developments and applications of simulation-based methods were presented at a … grids -- 1. Introduction -- 2. The panel probit model -- 3. Simulation and approximation of the outcome probabilities -- 4 …. The performance of different algorithms -- 5. Summary -- Notes -- References -- Pseudo-code -- Chapter 3. A comparison of …