NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Behavioral and Descriptive Forms of Choice Models

Ariel Pakes

NBER Working Paper No. 20022
Issued in March 2014
NBER Program(s):   IO   PR

Empirical work on choice models, especially work on relatively new topics or data sets, often starts with descriptive, or what is often colloquially referred to as "reduced form", results. Our descriptive form formalizes this process. It is derived from the underlying behavioral model, has an interpretation in terms of fit, and can sometimes be used to quantify biases in agents' expectations. We consider estimators for the descriptive form of discrete choice models with (and without) interacting agents that take account of approximation errors as well as unobservable sources of endogeneity. We conclude with an investigation of the descriptive form of two period entry models.

download in pdf format
   (333 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w20022

Users who downloaded this paper also downloaded* these:
Houde w20019 How Consumers Respond to Environmental Certification and the Value of Energy Information
Borjas and Doran w20026 Which Peers Matter? The Relative Impacts of Collaborators, Colleagues, and Competitors
Mulligan w20020 The ACA: Some Unpleasant Welfare Arithmetic
Abramitzky and Sin w20023 Book Translations as Idea Flows: The Effects of the Collapse of Communism on the Diffusion of Knowledge
Imbens w19983 Instrumental Variables: An Econometrician's Perspective
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us