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This paper proposes a particular behavioral assumption to characterize the stochastic structure of intertemporal discrete choice models in the absence of state dependence. This assumption extends Luce's axiom; Independence from Irrelevant Alternatives, to the intertemporal context. Under certain...
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assumptions which are consistent with economic theory, e.g. log-normally distributed consumption preferences, the Bayesian method …
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assumptions which are consistent with economic theory, e.g. log-normally distributed consumption preferences, the Bayesian method …
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