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Modeling Dynamic Preferences: A Bayesian Robust Dynamic Latent Ordered Probit Model

Stegmueller, Daniel (2013) 'Modeling Dynamic Preferences: A Bayesian Robust Dynamic Latent Ordered Probit Model.' Political Analysis, 21 (3). pp. 314-333. ISSN 1047-1987

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Abstract

Much politico-economic research on individuals’ preferences is cross-sectional and does not model dynamic aspects of preference or attitude formation. I present a Bayesian dynamic panel model, which facilitates the analysis of repeated preferences using individual-level panel data. My model deals with three problems. First, I explicitly include feedback from previous preferences taking into account that available survey measures of preferences are categorical. Second, I model individuals' initial conditions when entering the panel as resulting from observed and unobserved individual attributes. Third, I capture unobserved individual preference heterogeneity both via standard parametric random effects and a robust alternative based on Bayesian nonparametric density estimation. I use this model to analyze the impact of income and wealth on preferences for government intervention using the British Household Panel Study from 1991 to 2007.

Item Type: Article
Subjects: J Political Science > JC Political theory
Divisions: Faculty of Social Sciences > Government, Department of
Depositing User: Jim Jamieson
Date Deposited: 17 Sep 2013 09:45
Last Modified: 16 Dec 2014 12:11
URI: http://repository.essex.ac.uk/id/eprint/7665

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