Estimation of Dynamic Discrete Choice Models by Maximum Likelihood and the Simulated Method of Moments

We compare the performance of maximum likelihood (ML) and simulated method of moments (SMM) estimation for dynamic discrete choice models. We construct and estimate a simplified dynamic structural model of education that captures some basic features of educational choices in the United States in the...

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Veröffentlicht in:	NBER Working Paper Series 2014-10, p.20622
Hauptverfasser:	Mosso, Stefano, Eisenhauer, Phillipp, Heckman, James J
Format:	Artikel
Sprache:	eng
Schlagworte:	Algorithms Dynamic programming Economic models Economic statistics Economic theory Economics of Education Educational attainment Estimates Generalized method of moments Maximum likelihood method Methods Optimization Simulation Studies Technical Working Papers
Online-Zugang:	Volltext
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