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An Introduction to Dynamic Discrete Choice Models | Estimating the Rust (1987) Bus Engine Replacement Model - with Giulio Schinaia (November 2021)
This presentation and the associated code was prepared with Giulio Schinaia for a DPhil structural working group within the economics department at the University of Oxford. We discuss the basic elements of dynamic discrete choice models using the Rust (1987) bus engine replacement model as an example, and provide some Matlab code to simulate and estimate it using the NFXP algorithm.