This paper studies the econometric problems associated with estimation of a stochastic process that is endogenously sampled. Our interest is to infer the law of motion of a discrete-time stochastic process {pt} that is observed only at a subset of times {t1,..., tn} that depend on the outcome of...

We present a fast and accurate computational method for solving and estimating a class of dynamic programming models with discrete and continuous choice variables. The solution method we develop for structural estimation extends the en- dogenous grid-point method (EGM) to discrete-continuous...

This chapter summarizes the ability of the models to track the shift in departure rates induced by the 1982 window plan. All forecasts were based on the estimated utility function parameters using data prior to 1982. Using these parameters, predictions were generated from all four models after...