Showing 1 - 10 of 1,342
In this paper we estimate and empirically test different behavioral theories of consumer reference price formation. Two major theories are proposed to model the reference price reaction: assimilation contrast theory and prospect theory. We assume that different consumer segments will use...
Persistent link: https://www.econbiz.de/10003324130
In dynamic discrete choice analysis, controlling for unobserved heterogeneity is an important issue, and finite mixture models provide flexible ways to account for unobserved heterogeneity. This paper studies nonparametric identifiability of type probabilities and type-specific component...
Persistent link: https://www.econbiz.de/10003386574
Persistent link: https://www.econbiz.de/10013088749
This paper considers a semiparametric version of the network formation model of Graham (2017). The two-way fixed-effects binary choice model allows for homophily and degree heterogeneity, but unlike Graham (2017) leaves the distribution of pair-specific unobservables unspecified. Identification...
Persistent link: https://www.econbiz.de/10012954005
This paper proposes a new semi-parametric identification and estimation approach to multinomial choice models in a panel data setting with individual fixed effects. Our approach is based on cyclic monotonicity, which is a defining convex-analytic feature of the random utility framework...
Persistent link: https://www.econbiz.de/10012936363
This paper establishes conditions for nonparametric identification of dynamic optimization models in which agents make both discrete and continuous choices. We consider identification of both the payoff function and the distribution of unobservables. Models of this kind are prevalent in applied...
Persistent link: https://www.econbiz.de/10011757281
Dynamic discrete choice (DDC) models are not identified nonparametrically, but the non-identification of models does not necessarily imply the nonidentification of counterfactuals. We derive novel results for the identification of counterfactuals in DDC models, such as non-additive changes in...
Persistent link: https://www.econbiz.de/10012598419
The most familiar fixed effects (FE) and random effects (RE) panel data treatments for count data were proposed by Hausman, Hall and Griliches (HHG) (1984). The Poisson FE model is particularly simple and is one of a small few known models in which the incidental parameters problem is, in fact,...
Persistent link: https://www.econbiz.de/10014026073
This paper proposes a semiparametric estimator for spatial autoregressive (SAR) binary choice models in the context of panel data with fixed effects. The estimation procedure is based on the observational equivalence between distribution free models with a conditional median restriction and...
Persistent link: https://www.econbiz.de/10011705647
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...
Persistent link: https://www.econbiz.de/10010308578