Showing 1 - 10 of 29,494
known the payoff function cannot be nonparametrically identified without any a priori restrictions. Our identification of … identification strategies are constructive. They lead to easy to compute estimands that are global solutions. We illustrate with a …
Persistent link: https://www.econbiz.de/10011994584
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 … general framework that allows the investigation of the identification of a broad class of counterfactuals (covering virtually …
Persistent link: https://www.econbiz.de/10012598419
Persistent link: https://www.econbiz.de/10012211883
, but not current utilities, as an intuitive source of information on time preferences. We study the identification of …. Consequently, in contrast to common intuition, an exclusion restriction does not in general give point identification. Finally, we …
Persistent link: https://www.econbiz.de/10012215423
, but not current utilities, as an intuitive source of information on time preferences. We study the identification of …. Consequently, in contrast to common intuition, an exclusion restriction does not in general give point identification. Finally, we …
Persistent link: https://www.econbiz.de/10012900888
We study the identification of dynamic discrete choice models with hyperbolic discounting using a terminating action …. We provide novel identification results for both sophisticated and naive agents’ discount factors and their utilities in … a finite horizon framework under the assumption of a stationary flow utility. In contrast to existing identification …
Persistent link: https://www.econbiz.de/10014259577
Persistent link: https://www.econbiz.de/10013332697
Morton and Wecker (1977) stated that the value iteration algorithm solves a dynamic program's policy function faster than its value function when the limiting Markov chain is ergodic. I show that their proof is incomplete, and provide a new proof of this classic result. I use this result to...
Persistent link: https://www.econbiz.de/10011994824
cannot non-parametrically identified without any a priori restrictions. Our identification of the discount factor is robust … closed-form, independently of the discount factor and other parts of the payoff function. Our identification strategies are …
Persistent link: https://www.econbiz.de/10012950194
Persistent link: https://www.econbiz.de/10012130536