Kotlikoff, Laurence; Borsch-Supan, Axel; Hajivassiliou, … - National Bureau of Economic Research (NBER) - 1990
This paper develops a general multiperiod-multinomial probit model for panel data to estimate the living arrangements of the elderly. The model has the following features: <br>(a) In each period choices do not necessarily obey the assumption of independence of irrelevant alternatives. <br>(b) Unobserved...