ReSEP hosted a workshop on discrete choice dynamic programming at Stellenbosch University from 28 January to 1 February. The workshop was led by ReSEP members Rulof Burger and Cobus Burger and attended by 20 participants from Stellenbosch University, UCT and Wits.
Discrete choice dynamic programming (DCDP) is a modelling approach that uses economic theories to estimate the parameters of the behavioural equations that determine the decisions that individuals make. It is often used to model situations in labour economics, health economics, the economics of education and industrial organisation. Such models are particularly useful when investigating the effects of economic policies on the welfare of individuals.