Comments on “identification and semiparametric estimation of a finite horizon dynamic discrete choice model with a terminating action”
- 등재 SSCI, SCOPUS
- 발행기관 Springer New York LLC
- 발행년도 2019
- 총서유형 Journal
- URI http://www.dcollection.net/handler/ewha/000000162405
- 본문언어 영어
- Published As http://dx.doi.org/10.1007/s11129-019-09210-w
- 저작권 이화여자대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
Bajari et al. (Quantitative Marketing and Economics, 14(4), 271–323, 2016) showed conditions under which the discount factor is identified in a finite horizon optimal stopping problem. We show that these conditions can be cast as a special case of a class of exclusion restrictions which are relevant for a broader scope of applications, and extend the identification result to both finite horizon and infinite horizon optimal stopping problems under more general exclusion restrictions. We also show how a similar approach gives identification of general discount functions in finite horizon optimal stopping problems. The identification results directly suggest estimators of the discount functions that are easy to compute. © 2019, Springer Science+Business Media, LLC, part of Springer Nature.
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