MAXIMUM SIMULATED LIKELIHOOD: A BRIEF INTRODUCTION FOR PRACTITIONERS

Carlos Arias and Thomas L. Cox

No 12662, Staff Papers from University of Wisconsin-Madison, Department of Agricultural and Applied Economics

Abstract: This paper discusses the increasing importance of probability simulation methods in the context of Maximum Simulated Likelihood. Three probability simulators are analyzed following their chronological order of appearance. This analysis provides an intuitive approach to the basic idea behind probability simulation, the successive improvements and probable future developments. The paper pays special attention to the role of simulation noise in Maximum Simulated Likelihood.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 17
Date: 1999
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wisagr:12662

DOI: 10.22004/ag.econ.12662

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