The Unknown Parameters of a Markov Switching Model Are Usually

question 5

Multiple Choice

The unknown parameters of a Markov switching model are usually estimated using:

• A) Maximum likelihood
• B) Instrumental variables
• C) Indirect least squares
• D) Ordinary least squares

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Definitions:

Akers

Refers to Ronald L. Akers, a criminologist known for his work in social learning theory, which explains how people learn to engage in crime.

Social Learning

The process of acquiring behaviors and norms through observing and imitating others within a social context.

Stigmatized

This term describes individuals or groups that are labeled by society as being undesirable or discredited, often leading to discrimination and exclusion.

Ostracized

Excluded from a group or society with general consent, often as a form of social punishment.