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A test of the extreme value type I assumption in the bus engine replacement model


Larsen, Bradley J; Oswald, Florian; Reich, Gregor; Wunderli, Dan (2012). A test of the extreme value type I assumption in the bus engine replacement model. Economics Letters, 116(2):213-216.

Abstract

This note tests the assumption of dynamic discrete choice models that underlying utility shocks have an extreme value type I distribution. We find that extreme value type I shocks cannot be rejected in most specifications of the Rust (1987) bus engine replacement model.

Abstract

This note tests the assumption of dynamic discrete choice models that underlying utility shocks have an extreme value type I distribution. We find that extreme value type I shocks cannot be rejected in most specifications of the Rust (1987) bus engine replacement model.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Date:2012
Deposited On:05 Apr 2012 11:59
Last Modified:07 Dec 2017 13:47
Publisher:Elsevier
ISSN:0165-1765
Publisher DOI:https://doi.org/10.1016/j.econlet.2012.02.031

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