The Econometric Analysis of Transition Data

The Econometric Analysis of Transition Data by Tony Lancaster, published by Cambridge University Press in 1990, is a comprehensive exploration of statistical methods for analyzing the duration of events. This New Edition spans 352 pages and is presented in English. The book primarily focuses on models for single-spell data, where individual agents are observed for a single duration, while also addressing multiple-spell data. It provides a detailed overview of model specification, including both structural and reduced form models, as well as considerations of neglected heterogeneity.

Readers will find a thorough examination of likelihood-based inference related to these models, with discussions on full and semiparametric specifications. Additionally, the book includes a final section dedicated to graphical and numerical methods for specification testing. This work serves as a foundational text for understanding current econometric methods applicable to the study of duration data, making it a valuable resource for those interested in the intersection of business, economics, and econometrics.