Michael Keane

TL;DR: The authors provided structural estimates of a dynamic model of schooling, work, and occupational choice decisions based on 11 years of observations on a sample of young men from the 1979 youth cohort of the National Longitudinal Surveys of Labor Market Experience (NLSY).

TL;DR: In this article, the authors derive from the Bayesian learning framework how brand choice probabilities depend on past usage experience and advertising exposure, and then form likelihood functions for the models and estimate them using simulated maximum likelihood.

TL;DR: A generalized multinomial logit model (MNL) that nests S-MNL and MIXL is developed that accounts for scale heterogeneity and enables one to account for “extreme” consumers who exhibit nearly lexicographic preferences, as well as consumers who exhibits very “random” behaviour.

TL;DR: In this paper, an extension of McFadden's method of simulated moments estimator for limited dependent variable models to the panel data case is presented. But the method is based on a factorization of the MSM first order condition into transition probabilities, along with the development of a new highly accurate method for similating these transition probabilities.

TL;DR: In this paper, the effects of high marginal tax rates in welfare programs have been investigated by applying methods of simulation estimation to a model of labor supply and multiple program participation, showing that high welfare tax rates do not necessarily induce major reductions in work effort.