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Heterogeneity in ordered choice models:a review with applications to self assessed health

Greene, William and Harris, Mark N. and Hollingsworth, Bruce and Weterings, Timothy A. (2014) Heterogeneity in ordered choice models:a review with applications to self assessed health. Journal of Economic Surveys, 28 (1). pp. 109-133. ISSN 1467-6419

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Abstract

Discrete variables that have an inherent sense of ordering across outcomes are commonly found in large data sets available to many economists, and are often the focus of research. However, assumptions underlying the standard ordered probit (which is usually used to analyse such variables) are not always justified by the data. This study provides a review of the ways in which the ordered probit might be extended to account for additional heterogeneity. Differing from other reviews in scope, application and relevance in economic settings, a series of issues pertaining to choices of variables, and the economic assumptions underlying each model are discussed in the context of measuring the underlying health of respondents. The models are applied to a wave of the household, income and labour dynamics in Australia survey, in order to check the appropriateness of such assumptions in an applied context.

Item Type: Article
Journal or Publication Title: Journal of Economic Surveys
Uncontrolled Keywords: HOPIT model ; Incorporating heterogeneity ; Maximum likelihood ; Ordered choice modelling ; Self-assessed health
Subjects: R Medicine > R Medicine (General)
Departments: Faculty of Health and Medicine > Health Research
ID Code: 58731
Deposited By: ep_importer_pure
Deposited On: 01 Oct 2012 13:07
Refereed?: Yes
Published?: Published
Last Modified: 24 Jan 2014 05:33
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/58731

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