Artikel
Maximum likelihood and economic modeling
Most of the data available to economists is observational rather than the outcome of natural or quasi experiments. This complicates analysis because it is common for observationally distinct individuals to exhibit similar responses to a given environment and for observationally identical individuals to respond differently to similar incentives. In such situations, using maximum likelihood methods to fit an economic model can provide a general approach to describing the observed data, whatever its nature. The predictions obtained from a fitted model provide crucial information about the distributional outcomes of economic policies.
- Sprache
-
Englisch
- Erschienen in
-
Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2017 ; Bonn: Institute for the Study of Labor (IZA)
- Klassifikation
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Wirtschaft
- Thema
-
log-likelihood
economic model
parameter estimates
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lanot, Gauthier
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2017
- DOI
-
doi:10.15185/izawol.326
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Lanot, Gauthier
- Institute for the Study of Labor (IZA)
Entstanden
- 2017
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