Article ID Journal Published Year Pages File Type
5060556 Economics Letters 2012 4 Pages PDF
Abstract
► We test the extreme value type I (EVI) assumption of dynamic discrete choice models. ► Flexible distributions detect skewness and kurtosis not detected using EVI. ► In most specifications, EVI shocks cannot be rejected. ► When EVI shocks are rejected, significantly different predictions obtain at some states.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
A test of the extreme value type I assumption in the bus engine replacement model
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