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Development of a recursive multinomial probit model and its possible application for innovation studies

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  • Development of a recursive multinomial probit model and its possible application for innovation studies
  • Jeong, Gicheol
  • Science and Technology Policy Institute


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Title Development of a recursive multinomial probit model and its possible application for innovation studies
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Material Type Articles
Author(English)

Jeong, Gicheol

Publisher

Seoul:Science and Technology Policy Institute

Date 2011-06
Journal Title; Vol./Issue STI Policy Review:vol.2(no.2)
Pages 10
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Science/Technology
Holding Science and Technology Policy Institute

Abstract

This paper develops a recursive multinomial probit model and describes its estimation
method. The recursive multinomial probit model is an extension of a recursive bivariate probit
model. The main difference between the two models is that a single decision among two
or more alternatives can be considered in each choice equation in the proposed model. The
recursive multinomial probit model is developed based on a standard framework of the multinomial
probit model and a Bayesian approach with a Gibbs sampling is adopted for the estimation.
The simulation exercise with artificial data sets is showed that the model performed
well. Since the recursive multinomial probit model can be applied to analyze the causal relationship
between discrete dependent variables with more than two outcomes, the model can
play an important role in extending the methodology of the causal relationship analysis in
innovation research.

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