Gayle, George-Levi; Golan, Limor; Soytas, Mehmet A. - In: Quantitative Economics 9 (2018) 3, pp. 1195-1241
This paper explores the estimation of a class of life-cycle discrete choice dynastic models. It provides a new representation of the value function for these class of models. It compare a multistage conditional choice probability (CCP) estimator based on the new value function representation...