Hello everyone; this model has estimated the alpha and gamma parameters from the experimental data using the MLE estimation procedure. my study consisted of 121 respondents. I wanted these parameters for each individual, but I am unable to get this. Can anyone help to understand how I can estimate parameters (alpha and gamma) for each respondent? please help me
thank you
* define prospect theory model following Harrison and Rutstrom (2008)
program define MLcpt
args lnf alpha gamma
tempvar prob0l prob1l prob0r prob1r y0 y1 y2 y3
tempvar euL euR euDiff euRatio tmp
quietly {
generate double `tmp' = (($ML_y2^`gamma')+((1-$ML_y2)^`gamma'))
replace `tmp' = `tmp'^(1/`gamma')
generate double `prob0l' = ($ML_y2^`gamma')/`tmp'
generate double `prob1l' = ((1-$ML_y2)^(`gamma'))/`tmp'
replace `tmp' = (($ML_y3^`gamma')+((1-$ML_y3)^`gamma'))
replace `tmp' = `tmp'^(1/`gamma')
generate double `prob0r' = ($ML_y3^`gamma')/`tmp'
generate double `prob1r' = ((1-$ML_y3)^(`gamma'))/`tmp'
generate double `y0' = .
replace `y0' = ( $ML_y4)^(`alpha') if $ML_y4>=0
replace `y0' = -`lambda'*(-$ML_y4)^(`alpha') if $ML_y4<0
generate double `y1' = .
replace `y1' = ( $ML_y5)^(`alpha') if $ML_y5>=0
replace `y1' = -`lambda'*(-$ML_y5)^(`alpha') if $ML_y5<0
generate double `y2' = .
replace `y2' = ( $ML_y6)^(`alpha') if $ML_y6>=0
replace `y2' = -`lambda'*(-$ML_y6)^(`alpha') if $ML_y6<0
generate double `y3' = .
replace `y3' = ( $ML_y7)^(`alpha') if $ML_y7>=0
replace `y3' = -`lambda'*(-$ML_y7)^(`alpha') if $ML_y7<0
gen double `euL'=(`prob0l'*`y0')+(`prob1l'*`y1')
gen double `euR'=(`prob0r'*`y2')+(`prob1r'*`y3')
generate double `euDiff' = `euR' - `euL'
replace `lnf' = ln(normal( `euDiff')) if $ML_y1==1
replace `lnf' = ln(normal(-`euDiff')) if $ML_y1==0
}
end
ml model lf HL_cpt0 (alpha: choices prob1l prob2l prize0 prize1 prize2 prize3= )(gamma: ), cluster(ID) technique(nr) maximize
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