Heterogeneity in dynamic discrete choice models.
We consider dynamic discrete choice models with heterogeneity in both the levels parameter and the state dependence parameter. We first present an empirical analysis that motivates the theoretical analysis which follows. The theoretical analysis considers a simple two-state, first-order Markov chain...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Blackwell Publishing
2010
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