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Disentangling motivational and experiential aspects of "Utility": A neuroeconomics perspective

Witt, Ulrich; Binder, Martin - 2011

-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and …Although decision makers are often reported to have difficulties in making comparisons between multi … brain sciences to assess whether, and for what reasons, this assumption may be warranted. It is claimed that the decision …

Persistent link: https://www.econbiz.de/10010286755

Identification analysis in models with unrestricted latent variables: Fixed effects and initial conditions

Chesher, Andrew; Rosen, Adam M.; Zhang, Yuanqi - 2023

Many structural econometric models include latent variables on whose probability distributions one may wish to place minimal restrictions. Leading examples in panel data models are individual-specific variables sometimes treated as "fixed effects" and, in dynamic models, initial conditions. This...

Persistent link: https://www.econbiz.de/10014480416

A note on GMM-estimation of probit models with endogenous regressors

Wilde, Joachim - 2005

Dagenais (1999) and Lucchetti (2002) have demonstrated that the naive GMM estimator of Grogger (1990) for the probit model with an endogenous regressor is not consistent. This paper completes their discussion by explaining the reason for the inconsistency and presenting a natural solution....

Persistent link: https://www.econbiz.de/10010263480

Marginal effects in the probit model with a triple dummy variable interaction term

Cornelißen, Thomas; Sonderhof, Katja - 2008

In non-linear regression models, such as the probit model, coefficients cannot be interpreted as marginal effects. The marginal effects are usually non-linear combinations of all regressors and regression coefficients of the model. This paper derives the marginal effects in a probit model with a...

Persistent link: https://www.econbiz.de/10010264938

Efficient probit estimation with partially missing covariates

Conniffe, Denis; O'Neill, Donal - 2009

decision of Italian households. …

Persistent link: https://www.econbiz.de/10010269313

A Simple Representation of the Bera-Jarque-Lee Test for Probit Models

Wilde, Joachim - 2007

The inference in probit models relies on the assumption of normality. However, tests of this assumption are not implemented in standard econometric software. Therefore, the paper presents a simple representation of the Bera-Jarque-Lee test, that does not require any matrix algebra. Furthermore,...

Persistent link: https://www.econbiz.de/10010269965

IV models of ordered choice

Chesher, Andrew; Smolinski, Konrad - 2009

This paper studies single equation instrumental variable models of ordered choice in which explanatory variables may be endogenous. The models are weakly restrictive, leaving unspecified the mechanism that generates endogenous variables. These incomplete models are set, not point, identifying...

Persistent link: https://www.econbiz.de/10010288410

Heterogeneous households in a sticky-price model

Lee, Jae Won - 2009

-specific labor markets. Households differ in labor incomes and asset markets are incomplete. I show that household heterogeneity …. To quantify the importance of household heterogeneity in amplifying stickiness, I estimate and compare representative and …

Persistent link: https://www.econbiz.de/10010282838

The Many Faces of Human Sociality: Uncovering the Distribution and Stability of Social Preferences

Bruhin, Adrian; Fehr, Ernst; Schunk, Daniel - 2016

There is vast heterogeneity in the human willingness to weigh others’ interests in decision making. This heterogeneity … raises the question how one can parsimoniously model and characterize heterogeneity across several dimensions of social …

Persistent link: https://www.econbiz.de/10011431279

The many faces of human sociality: Uncovering the distribution and stability of social preferences

Bruhin, Adrian; Fehr, Ernst; Schunk, Daniel - 2018

There is vast heterogeneity in the human willingness to weigh others' interests in decision making. This heterogeneity … parsimoniously model and characterize heterogeneity across several dimensions of social preferences while still being able to predict …

Persistent link: https://www.econbiz.de/10011969209