Testable Implications of Parametric Assumptions in Ordered Random Utility Models
有序随机效用模型中参数假设的可检验含义AI 解读 ↓
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有序随机效用模型中参数假设的可检验含义AI 解读 ↓
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We establish the testable implications of ordered random utility models under nonparametric, semi-nonparametric, and parametric assumptions. After characterizing these models in a continuous setting and in the absence of fundamental parametric restrictions, we show that assumptions about the type distribution alone are immaterial, while assumptions about the map linking types to utilities are relevant only insofar as they restrict the class of utilities at stake. Importantly, the joint presence of such parametric assumptions, as is common practice, further restricts the empirical content of the model. We then provide a characterization of parametric ordered-logit models. Finally, we apply our results to economically relevant settings.
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This paper introduces a quasi-Bayesian method that integrates frequentist nonparametric estimation with Bayesian inference in a two-stage process. Applied to an endogenous discrete choice model, the approach first uses kernel or sieve estimators to estimate the control function nonparametrically, followed by Bayesian methods to estimate the structural parameters. This combination leverages the advantages of both frequentist tractability for nonparametric estimation and…