英文标题：
《Identifying the Discount Factor in Dynamic Discrete Choice Models》
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作者：
Jaap H. Abbring and {\\O}ystein Daljord
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最新提交年份：
2019
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英文摘要：
  Empirical research often cites observed choice responses to variation that shifts expected discounted future utilities, but not current utilities, as an intuitive source of information on time preferences. We study the identification of dynamic discrete choice models under such economically motivated exclusion restrictions on primitive utilities. We show that each exclusion restriction leads to an easily interpretable moment condition with the discount factor as the only unknown parameter. The identified set of discount factors that solves this condition is finite, but not necessarily a singleton. Consequently, in contrast to common intuition, an exclusion restriction does not in general give point identification. Finally, we show that exclusion restrictions have nontrivial empirical content: The implied moment conditions impose restrictions on choices that are absent from the unconstrained model.
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中文摘要：
实证研究经常引用观察到的对变化的选择反应作为时间偏好信息的直观来源，这种变化改变了预期的贴现未来效用，而不是当前效用。我们研究了在原始效用的经济动机排斥约束下动态离散选择模型的辨识问题。我们证明了每个排除限制都会导致一个易于解释的矩条件，折扣因子是唯一的未知参数。解决此条件的已识别贴现因子集是有限的，但不一定是单一的。因此，与普通直觉相反，排除限制通常不会给出点识别。最后，我们证明了排除限制具有非平凡的经验内容：隐含矩条件对无约束模型中不存在的选择施加限制。
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分类信息：

一级分类：Economics        经济学
二级分类：Econometrics        计量经济学
分类描述：Econometric Theory, Micro-Econometrics, Macro-Econometrics, Empirical Content of Economic Relations discovered via New Methods, Methodological Aspects of the Application of Statistical Inference to Economic Data.
计量经济学理论，微观计量经济学，宏观计量经济学，通过新方法发现的经济关系的实证内容，统计推论应用于经济数据的方法论方面。
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一级分类：Economics        经济学
二级分类：General Economics        一般经济学
分类描述：General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类：Quantitative Finance        数量金融学
二级分类：Economics        经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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