This paper considers the estimation of dynamic structural models where the decision variables are censored. We present and discuss several econometric issues and estimation methods under alternative stochastic structures of the unobservables, different potential sources of censoring, and...

This paper considers the estimation of dynamic structural models where the decision variables are censored. We present and discuss several econometric issues and estimation methods under alternative stochastic structures of the unobservables, different potential sources of censoring, and...

Computational methods both open the frontiers of economic analysis and serve as a bottleneck in what can be achieved. Using the quantum Monte Carlo (QMC) algorithm, we are the first to study whether quantum computing can improve the run time of economic applications and challenges in doing so....

Computational methods both open the frontiers of economic analysis and serve as a bottleneck in what can be achieved. Using the quantum Monte Carlo (QMC) algorithm, we are the first to study whether quantum computing can improve the run time of economic applications and challenges in doing so....

Adjustable robust optimization (ARO) is a technique to solve dynamic (multistage) optimization problems. In ARO, the decision in each stage is a function of the information accumulated from the previous periods on the values of the uncertain parameters. This information, however, is often...

How much is the timber from public forests worth? How can the Public Forest Service define a fair market price for standing timber lots? What is the cost of low participation in French timber auctions? To estimate the value of a timber lot we adopt the transaction-evidence appraisal approach...

We propose a Bayesian Metropolis-Gibbs Monte Carlo Markov Chain (MCMC) algorithm to estimate parameters of a sample selection model in which the selected equation include a binary endogenous explanatory variable, using a three simultaneous equation model. We apply our methodology to...

In practical applications, it is not uncommon for the hazard functions obtained for two groups to converge with time. We develop a procedure for testing the proportional odds assumption when the available data consists of two independent random samples of randomly right censored lifetimes.

This paper investigates the factors explaining significant policy change by studying how bipartisan support developed to sustain the Reciprocal Trade Agreements Act (RTAA) of 1934.

We analyze a multistage stochastic asset allocation problem with decision rules.