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dc.contributor.authorAßmann, Christianen
dc.contributor.authorBoysen-Hogrefe, Jensen
dc.date.accessioned2009-04-28-
dc.date.accessioned2009-09-07T14:31:22Z-
dc.date.available2009-09-07T14:31:22Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/27738-
dc.description.abstractConsideration of latent heterogeneity is of special importance in non linear models for gauging correctly the effect of explaining variables on the dependent variable. This paper adopts the stratified model-based clustering approach for modeling latent heterogeneity for panel probit models. Within a Bayesian framework an estimation algorithm dealing with the inherent label switching problem is provided. Determination of the number of clusters is based on the marginal likelihood and out-of-sample criteria. The ability to decide on the correct number of clusters is assessed within a simulation study indicating high accuracy for both approaches. Different concepts of marginal effects incorporating latent heterogeneity at different degrees arise within the considered model setup and are directly at hand within Bayesian estimation via MCMC methodology. An empirical illustration of the developed methodology indicates that consideration of latent heterogeneity via latent clusters provides the preferred model specification compared to a pooled and a random coefficient specification.en
dc.language.isoengen
dc.publisher|aKiel University, Department of Economics |cKielen
dc.relation.ispartofseries|aEconomics Working Paper |x2009-03en
dc.subject.jelC11en
dc.subject.jelC23en
dc.subject.jelC25en
dc.subject.ddc330en
dc.subject.keywordBayesian Estimationen
dc.subject.keywordMCMC Methodsen
dc.subject.keywordPanel Probit Modelen
dc.subject.keywordMixture Modellingen
dc.subject.stwProbit-Modellen
dc.subject.stwPanelen
dc.subject.stwBayes-Statistiken
dc.subject.stwSchätztheorieen
dc.subject.stwTheorieen
dc.titleA bayesian approach to model-based clustering for panel probit models-
dc.typeWorking Paperen
dc.identifier.ppn598701265en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cauewp:200903en

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