Compatibility of multi-wave panel data and the continuous-time homogeneous Markov chain. An analysis of a continuous-time process by means of discrete-time longitudinal observations
✍ Scribed by Carette, Philippe
- Publisher
- John Wiley and Sons
- Year
- 1998
- Tongue
- English
- Weight
- 103 KB
- Volume
- 14
- Category
- Article
- ISSN
- 8755-0024
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✦ Synopsis
Multi-wave panel data are observations at two or more points in time on a continuously changing attribute of interest (e.g. behaviour). In this paper, the adequacy of the continuous-time homogeneous Markov chain (CTHMC) model is assessed for describing the process of change underlying such data. In the case of equidistant observational times, it may happen that the maximum-likelihood estimate of the transition probability matrix between successive observational times from these data cannot arise from a CTHMC. It is investigated whether this event can be ascribed to chance through the introduction of an hypothesis test.