This paper introduces a heterogeneous agent discrete choice probit demand model with a structural interpretation of product choice covariance designed to overcome two hurdles in discrete choice demand modeling. One hurdle is the curse of dimensionality implicit in covariance probit demand models...

We propose a novel approach to model serially dependent positive-valued variables which realize a non-trivial proportion of zero outcomes. This is a typical phenomenon in financial time series observed on high frequencies, such as cumulated trading volumes or the time between potentially...

We propose a novel approach to model serially dependent positive-valued variables which realize a non-trivial proportion of zero outcomes. This is a typical phenomenon in financial time series observed on high frequencies, such as cumulated trading volumes or the time between potentially...

We propose a novel approach to model serially dependent positive-valued variables which realize a non-trivial proportion of zero outcomes. This is a typical phenomenon in financial time series observed at high frequencies, such as cumulated trading volumes. We introduce a flexible point-mass...

In this paper we study the identification and estimation of a class of binary regressions where conditional medians of additive disturbances are bounded between known or exogenously identified functions of regressors. This class includes several important microeconometric models, such as...

We model attitudes as latent variables that induce stochastic dominance relations in (item) responses. Observable characteristics that affect attitudes can be incorporated into the analysis to improve the measurement of the attitudes; the measurements are posterior distributions that condition...

This paper estimates ordered logit models for bank ratings which include a country index to capture country-specific variation. The empirical findings support the hypothesis that the individual international bank ratings assigned by Fitch Ratings are underpinned by fundamental quantitative...

In order to overcome the problem of free-riding in current P2P system, we suggest applying social network theory. Based on our exploration of the overlapping research fields of social networks and peer-to-peer networks, we propose a new P2P framework within this paper. It specifies social...

This paper discusses how specification of probabilistic models for multistate duration data generated by individual choices should be justified on a priori theoretical grounds. Preferences are assumed represented by random utilities, where utilities are viewed as random also to the agent...

El presente estudio contrasta la hipótesis de una relación no lineal entre la inflación y el crecimiento de la actividad económica del Perú con datos que cubren el periodo enero 1993 - junio 2012. Se usa una familia de modelos dicotómicos que enfatizan la relación entre las fases de...