Introduction to FUR special issue

Morten Lau; Glenn W. Harrison; Daniel Read

doi:10.1007/s11238-011-9277-0

Introduction to FUR special issue

Morten Lau, Glenn W. Harrison, Daniel Read

Research output: Contribution to journal › Journal article › Research › peer-review

Abstract

We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. Classic applications include the estimation of coefficients of utility functions to characterize risk attitudes and discounting functions to characterize impatience. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.

Original language	English
Journal	Theory and Decision
Volume	73
Issue number	1
Pages (from-to)	1-2
ISSN	0040-5833
DOIs	https://doi.org/10.1007/s11238-011-9277-0
Publication status	Published - 2012
Externally published	Yes

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abstract = "We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. Classic applications include the estimation of coefficients of utility functions to characterize risk attitudes and discounting functions to characterize impatience. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.",

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AU - Lau, Morten

AU - Harrison, Glenn W.

AU - Read, Daniel

PY - 2012

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N2 - We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. Classic applications include the estimation of coefficients of utility functions to characterize risk attitudes and discounting functions to characterize impatience. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.

AB - We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. Classic applications include the estimation of coefficients of utility functions to characterize risk attitudes and discounting functions to characterize impatience. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.

KW - Risk Attitudes

KW - Random Coefficients

KW - Mixed Logit

KW - Lottery Choices

KW - Behavioral Eonometrics

KW - Structural Estimation

U2 - 10.1007/s11238-011-9277-0

DO - 10.1007/s11238-011-9277-0

M3 - Journal article

SN - 0040-5833

VL - 73

SP - 1

EP - 2

JO - Theory and Decision

JF - Theory and Decision

IS - 1

ER -