Maximum simulated likelihood methods and applications

Maximum simulated likelihood methods and applications

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The economics and statistics literature using computer simulation based methods has grown enormously over the past decades. Maximum Simulated Likelihood is a statistical tool useful for incorporating individual differences (called heterogeneity in the econometrics literature) and variations into a s...

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Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Bingley, U.K. Emerald 2010
Schriftenreihe:Advances in econometrics 26
Schlagworte:
Business & Economics
Econometrics
Economics
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Beschreibung
Zusammenfassung:The economics and statistics literature using computer simulation based methods has grown enormously over the past decades. Maximum Simulated Likelihood is a statistical tool useful for incorporating individual differences (called heterogeneity in the econometrics literature) and variations into a statistical analysis. Problems that can be intractable with traditional methods are solved using computer simulation integrated with classical methods. Instead of assuming that everyone responds to stimuli in the same way, allowances are made for the possibility that different decision makers will respond in different ways. The techniques can be applied to problems of individual choice, such as the choice of a transportation model, or choice among health care options, as well as to the problem of making financial and macroeconomic predictions. Contributors to the volume discuss alternative simulation methods that permit faster and more accurate inference, as well as applications of established methods
Beschreibung:1 Online-Ressource (xiv, 356 Seiten) ill
ISBN:9780857241504

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