Empirical applications of discrete choice dynamic programming models

Keane, MP; Wolpin, KI

Empirical applications of discrete choice dynamic programming models

Keane, MP Wolpin, KI

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Publication Type:: Journal Article
Citation:: Review of Economic Dynamics, 2009, 12 (1), pp. 1 - 22
Issue Date:: 2009-01-01

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Field	Value	Language
dc.contributor.author	Keane, MP	en_US
dc.contributor.author	Wolpin, KI	en_US
dc.date.issued	2009-01-01	en_US
dc.identifier.citation	Review of Economic Dynamics, 2009, 12 (1), pp. 1 - 22	en_US
dc.identifier.issn	1094-2025	en_US
dc.identifier.uri	http://hdl.handle.net/10453/9931
dc.description.abstract	The development over the past 25 years of methods for the estimation of discrete choice dynamic programming (DCDP) models opened up new frontiers for empirical research in a host of areas, including labor economics, industrial organization, economic demography, health economics, development economics, political economy and marketing. In this paper, we first describe the development of the DCDP framework, showing how it was a natural extension of static discrete choice modeling. We then summarize six papers that adopt the DCDP paradigm that address substantively important social and economic questions. Finally, we consider the issue of the credibility of empirical findings based on the structural estimation of DCDP models. © 2008 Elsevier Inc. All rights reserved.	en_US
dc.relation.ispartof	Review of Economic Dynamics	en_US
dc.relation.isbasedon	10.1016/j.red.2008.07.001	en_US
dc.subject.classification	Economics	en_US
dc.title	Empirical applications of discrete choice dynamic programming models	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	12	en_US
utslib.for	140302 Econometric and Statistical Methods	en_US
utslib.for	14 Economics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	12	en_US

Abstract:

The development over the past 25 years of methods for the estimation of discrete choice dynamic programming (DCDP) models opened up new frontiers for empirical research in a host of areas, including labor economics, industrial organization, economic demography, health economics, development economics, political economy and marketing. In this paper, we first describe the development of the DCDP framework, showing how it was a natural extension of static discrete choice modeling. We then summarize six papers that adopt the DCDP paradigm that address substantively important social and economic questions. Finally, we consider the issue of the credibility of empirical findings based on the structural estimation of DCDP models. © 2008 Elsevier Inc. All rights reserved.

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