Welfare Analysis in Dynamic Models

Victor Chernozhukov, Whitney Newey and Vira Semenova

Papers from arXiv.org

Abstract: This paper provides welfare metrics for dynamic choice. We give estimation and inference methods for functions of the expected value of dynamic choice. These parameters include average value by group, average derivatives with respect to endowments, and structural decompositions. The example of dynamic discrete choice is considered. We give dual and doubly robust representations of these parameters. A least squares estimator of the dynamic Riesz representer for the parameter of interest is given. Debiased machine learners are provided and asymptotic theory given.

Date: 2019-08, Revised 2024-11
New Economics Papers: this item is included in nep-big, nep-ecm and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1908.09173

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