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dc.contributor.authorAaberge, Rolfen_US
dc.description.abstractAs is known from the economic literature, the notion of negative/positive duration dependence defined in terms of a decreasing/increasing hazard function can solely be used as a basis for revealing whether negative/positive duration dependence is present or not. However, when concern is directed to comparison and measurement of the extent of duration dependence in hazard rate models alternative definitions and methods are called for. To this end we propose a stronger as well as a weaker version of the standard definition of duration dependence and demonstrate that these definitions form a useful basis for developing appropriate duration dependence orderings and summary measures of duration dependence.en_US
dc.publisher|aDep. of Economics, Univ. of Oslo |cOsloen_US
dc.relation.ispartofseries|aMemorandum, Department of Economics, University of Oslo |x2002,07en_US
dc.subject.keywordHazard rate modelsen_US
dc.subject.keywordduration dependence orderingsen_US
dc.subject.keywordsummary measures of duration dependenceen_US
dc.subject.keywordthe Weibull distributionen_US
dc.subject.keywordPH and MPH modelsen_US
dc.subject.stwMoral Hazarden_US
dc.subject.stwStatistische Bestandsanalyseen_US
dc.titleCharacterization and measurement of duration dependence in Hazard rate modelsen_US
dc.typeWorking Paperen_US

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