Heterogeneity in choice models is typically assumed to have a normal distribution in both Bayesian and classical setups … models that can be applied to both individual as well as aggregate data. Heterogeneity is modeled using a Dirichlet process …

generalize a classic result in copula theory concerning the extendibility of subcopulas to show that related objects …

Dynamic discrete choice models usually require a general specification of unobserved heterogeneity. In this paper, we … with a multivariate normal distribution for the unobserved heterogeneity, the Bayesian MCMC estimator yields almost … assumptions which are consistent with economic theory, e.g. log-normally distributed consumption preferences, the Bayesian method …

Dynamic discrete choice models usually require a general specification of unobserved heterogeneity. In this paper, we … with a multivariate normal distribution for the unobserved heterogeneity, the Bayesian MCMC estimator yields almost … assumptions which are consistent with economic theory, e.g. log-normally distributed consumption preferences, the Bayesian method …