Paas, Leonard J.; Vermunt, Jeroen K.; Bijmolt, Tammo H. A. - In: Journal of the Royal Statistical Society Series A 170 (2007) 4, pp. 955-974
The paper demonstrates application of the latent Markov model for assessing developments by individuals through stages of a process. This approach is applied by using a database on ownership of 12 financial products and various demographic variables. The latent Markov model derives latent...
