Evaluating Alternative Representations of the Choice Sets in Models of Labour Supply PDF Download

Author: Rolf Aaberge
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: Rolf Aaberge
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
During the last two decades, the discrete choice modeling of labor supply decisions has become increasingly popular. Within the literature adopting this approach, however, there are two potentially important issues that so far have not been given the attention they might deserve. A first issue concerns the procedure by which the discrete alternatives are selected to enter the choice set. Most authors choose (not probabilistically) a set of fixed points identical for every individual. Some authors adopt instead a sampling procedure and also assume that the choice set may differ across households. A second issue concerns the availability of the alternatives. Most authors assume all the values of hours of work within some range are equally available. At the other extreme, some authors assume only two or three alternatives (for example, nonparticipation, part-time and full-time) are available for everyone. Some studies account instead for the fact that not all the hour opportunities are equally available to everyone specifying a probability density function of opportunities for each individual. In this paper we explore by simulation the implications of (i) the procedure used to build the choice set (fixed alternatives versus sampled alternatives); (ii) accounting or not accounting for a different availability of alternatives. The results of the evaluation performed in this paper show that the way the choice set is represented has little impact on the fitting of observed values, but a more significant and important impact on the out-of-sample prediction performance. Thus, the treatment of the choice sets might have a crucial effect on the result of policy evaluations.

Author: Hashimzade, Nigar
Publisher: Edward Elgar Publishing
ISBN: 1788976487
Category : Business & Economics
Languages : en
Pages : 672

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Written in a comprehensive yet accessible style, this Handbook introduces readers to a range of modern empirical methods with applications in microeconomics, illustrating how to use two of the most popular software packages, Stata and R, in microeconometric applications.

Author: Ann Harding
Publisher: Routledge
ISBN: 1351914936
Category : Social Science
Languages : en
Pages : 637

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In the past fifteen years, microsimulation models have become firmly established as vital tools for analysis of the distributional impact of changes in governmental programmes. Across Europe, the US, Canada and Australia, microsimulation models are used extensively to assess who are the winners and losers from proposed policy reforms; this is now expanding into new frontiers, both geographically and in terms of policy areas. With contributions from more than 60 international experts, this volume offers a comprehensive introduction to the state of microsimulation internationally, illustrating a wide range of new applications and approaches. It will be of relevance to government policy makers, social policy planners, economists and those concerned with predicting the impact of public policy change and to academics in a variety of disciplines, especially social and public policy, human geography, development studies and economics.

Author: Kenneth Train
Publisher: Cambridge University Press
ISBN: 0521766559
Category : Business & Economics
Languages : en
Pages : 399

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This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.

Author: James Joseph Heckman
Publisher: Elsevier
ISBN: 0444506314
Category : Econometrics
Languages : en
Pages : 1013

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As conceived by the founders of the Econometric Society, econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in this volume embody this vision and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice ...

Author: Cathal O'Donoghue
Publisher: Emerald Group Publishing
ISBN: 1783505702
Category : Business & Economics
Languages : en
Pages : 563

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Microsimulation Modelling involves the application of simulation methods to micro data for the purposes of evaluating the effectiveness and improving the design of public policy. The field has been applied to many different policies within both government and academia. This handbook describes and discusses the main issues within the field.

Author: Wayne R. Ott
Publisher:
ISBN:
Category : Environmental engineering
Languages : en
Pages : 868

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 874

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Author: Paul A. Waddell
Publisher: Routledge
ISBN: 0429849583
Category : Science
Languages : en
Pages : 98

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Published in 1997. The aim of this book is to explore urban modelling traditions, identify key limitations and contributions and to develop a more general model within a discrete choice framework. The scope of the effort is on household choices regarding residential location, workplace and housing tenure. It is the first systematic effort to analyze the structure and sequence of the choices made by households regarding residential location and workplace. The implications for urban theory, model development and policy analysis are substantial.