Modeling dynamic preferences: A Bayesian robust dynamic latent ordered probit model
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. © The Author 2013. Published by Oxford University Press on behalf of the Society for Political Methodology. All rights reserved.
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- Political Science & Public Administration
- 4408 Political science
- 1606 Political Science
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Published In
DOI
EISSN
ISSN
Publication Date
Volume
Issue
Start / End Page
Related Subject Headings
- Political Science & Public Administration
- 4408 Political science
- 1606 Political Science