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      CANCELLED: Identification of Intertemporal Preferences in History-Dependent Dynamic Discrete Choice Models in Geneva


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      April 22, 2020

      Wednesday   2:15 PM

      Rue du Général- Dufour 24
      Geneva, Genève 1211

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      EVENT DETAILS
      CANCELLED: Identification of Intertemporal Preferences in History-Dependent Dynamic Discrete Choice Models

      22.04.2020 14:15 – 15:45

      INSTITUTE OF ECONOMICS AND ECONOMETRICS SEMINAR / ABSTRACT

      We study the identification of intertemporal preferences in a stationary dynamic discrete decision model. We propose a new approach which focuses on problems which are intrinsically dynamic: either there is endogenous variation in the choice set, or preferences depend directly on the history. History dependence links the choices of the decision-maker across periods in a more fundamental sense standard dynamic discrete choice models typically assume. We consider both exponential discounting as well as the quasi-hyperbolic discounting models of time preferences. We show that if the utility function or the choice set depends on the current states as well as the past choices and/or states, then time preferences are non-parametrically point-identified separately from the utility function under mild conditions on the data. With additional variation in the data, we may also recover the instantaneous utility function without imposing any normalization on the utility across states.

      Sponsored by NCCR-LIVES
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      Bâtiment: Uni Mail

      Boulevard du Pont-d'Arve 40
      1205 Geneva

      Room: M 3250, 3rd floor

      Categories: University & Alumni

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