TY - JOUR TI - Parameterising a detailed dynamic programming model of savings and labour supply using cross-sectional data AU - van de Ven, Justin W. VL - 10 IS - 1 PY - 2017 DA - 2017/04/30 SP - 135-166 C1 - IJM 2017;10(1):135-166 DO - 10.34196/ijm.00152 UR - https://doi.org/10.34196/ijm.00152 AB - Dynamic programming methods are now commonly used to describe behaviour in contexts where uncertainty is likely to have an important bearing on decision making. Using a publicly available structural dynamic microsimulation model, LINDA, this paper provides new insights into how unobservable preference parameters – particularly those associated with risk aversion – can be coherently identified on broad-based moments of decision making observed for a population cross-section. Preference parameters identified on UK data are found to be in-line with those reported in the wider econometric literature. KW - dynamic Programming KW - savings KW - labor supply KW - empirical identification JF - IJM SN - 1747-5864 PB - International Journal of Microsimulation ER -