Elliptical Utility Function Estimation#
elliptical_u_est.py modules
ogcore.elliptical_u_est#
constant Frisch elasticity function with the input Frisch elasticity.#
- ogcore.elliptical_u_est.CFE_mu(theta, l_tilde, n)[source]#
Marginal disutility of labor supply from the constant Frisch elasticity utility function
- Parameters:
theta (scalar) – inverse of the Frisch elasticity of labor supply
l_tilde (scalar) – maximum amount of labor supply
n (array_like) – labor supply amount
- Returns:
marginal disutility of labor supply
- Return type:
mu (array_like)
- ogcore.elliptical_u_est.CFE_u(theta, l_tilde, n)[source]#
Disutility of labor supply from the constant Frisch elasticity utility function.
- Parameters:
theta (scalar) – inverse of the Frisch elasticity of labor supply
l_tilde (scalar) – maximum amount of labor supply
n (array_like) – labor supply amount
- Returns:
disutility of labor supply
- Return type:
u (array_like)
- ogcore.elliptical_u_est.elliptical_mu(b, upsilon, l_tilde, n)[source]#
Marginal disutility of labor supply from the elliptical utility function
- Parameters:
b (scalar) – scale parameter of elliptical utility function
upsilon (scalar) – curvature parameter of elliptical utility function
l_tilde (scalar) – maximum amount of labor supply
n (array_like) – labor supply amount
- Returns:
marginal disutility of labor supply
- Return type:
mu (array_like)
- ogcore.elliptical_u_est.elliptical_u(b, k, upsilon, l_tilde, n)[source]#
Disutility of labor supply from the elliptical utility function
- Parameters:
b (scalar) – scale parameter of elliptical utility function
k (scalar) – shift parameter of elliptical utility function
upsilon (scalar) – curvature parameter of elliptical utility function
l_tilde (scalar) – maximum amount of labor supply
n (array_like) – labor supply amount
- Returns:
disutility of labor supply
- Return type:
u (array_like)
- ogcore.elliptical_u_est.estimation(frisch, l_tilde)[source]#
This function estimates the parameters of an elliptical utility function that fits a constant frisch elasticity function.
- Parameters:
frisch (scalar) – Frisch elasticity of labor supply
l_tilde (scalar) – maximum amount of labor supply
- Returns:
estimated b from elliptical utility function upsilon_MU_til (scalar): estimated upsilon from elliptical
utility function
- Return type:
b_MU_til (scalar)
- ogcore.elliptical_u_est.sumsq(params, *objs)[source]#
This function generates the sum of squared deviations between the constant Frisch elasticity function and the elliptical utility function.
- Parameters:
params (tuple) – parameters to estimate, (b, k, upsilon)
objs (tuple) – other parameters of utility function, (theta, l_tilde, n_grid)
- Returns:
sum of squared errors
- Return type:
ssqdev (scalar)
- ogcore.elliptical_u_est.sumsq_MU(params, *objs)[source]#
This function generates the sum of squared deviations between the marginals of the constant Frisch elasticity function and the elliptical utility function
- Parameters:
params (tuple) – parameters to estimate, (b, k, upsilon)
objs (tuple) – other parameters of utility function, (theta, l_tilde, n_grid)
- Returns:
sum of squared errors
- Return type:
ssqdev (scalar)