Abstract:This paper develops maximum score estimation of preference parameters in the binary choice model under uncertainty in which the decision rule is affected by conditional expectations. The preference parameters are estimated in two stages: we estimate conditional expectations nonparametrically in the first stage and then the preference parameters in the second stage based on Manski (1975Manski ( , 1985's maximum score estimator using the choice data and first stage estimates. The paper establishes consistency an… Show more
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