Author: Forrest D. Nelson
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
Book Description
The "Tobit" model is a useful tool for estimation of regression models with a truncated or limited dependent variable, but it requires a threshold which is either a known constant or an observable and independent variable. The model presented here extends the Tobit model to the censored case where the threshold is an unobserved and not necessarily independent random variable. Maximum likelihood procedures can be employed for joint estimation of both the primary regression equation and the parameters of the distribution of that random threshold. The appropriate likelihood function is derived, the conditions necessary for identification are revealed, and the particular estimation difficulties are discussed. The model is illustrated by an application to the determination of a housewife's value of time
Censored Regression Models with Unobserved Stochastic Censoring Thresholds
Author: Forrest D. Nelson
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
Book Description
The "Tobit" model is a useful tool for estimation of regression models with a truncated or limited dependent variable, but it requires a threshold which is either a known constant or an observable and independent variable. The model presented here extends the Tobit model to the censored case where the threshold is an unobserved and not necessarily independent random variable. Maximum likelihood procedures can be employed for joint estimation of both the primary regression equation and the parameters of the distribution of that random threshold. The appropriate likelihood function is derived, the conditions necessary for identification are revealed, and the particular estimation difficulties are discussed. The model is illustrated by an application to the determination of a housewife's value of time
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
Book Description
The "Tobit" model is a useful tool for estimation of regression models with a truncated or limited dependent variable, but it requires a threshold which is either a known constant or an observable and independent variable. The model presented here extends the Tobit model to the censored case where the threshold is an unobserved and not necessarily independent random variable. Maximum likelihood procedures can be employed for joint estimation of both the primary regression equation and the parameters of the distribution of that random threshold. The appropriate likelihood function is derived, the conditions necessary for identification are revealed, and the particular estimation difficulties are discussed. The model is illustrated by an application to the determination of a housewife's value of time
On the Identification of the Censored Regression Model with a Stochastic and Unobserved Treshold [i.e. Threshold]
Regression Models
Author: Richard Breen
Publisher: SAGE
ISBN: 9780803957107
Category : Mathematics
Languages : en
Pages : 92
Book Description
This book provides an introduction to the regression models needed, where an outcome variable for a sample is not representative of the population from which a generalized result is sought.
Publisher: SAGE
ISBN: 9780803957107
Category : Mathematics
Languages : en
Pages : 92
Book Description
This book provides an introduction to the regression models needed, where an outcome variable for a sample is not representative of the population from which a generalized result is sought.
On Marginal Effects in Semiparametric Censored Regression Models
Author: Bo E. Honoré
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
Book Description
This note illustrates that the typical parameter, beta, in a censored regression model can be used to calculate an interesting marginal effect even when the errors in the model and the explanatory variables are not independent. The result is relevant for cross sectional models such at the ones considered in Powell (1984), Powell (1986) and Chen and Khan (2000), as well as for panel data models such as the ones in Honore (1992) and Alan and Leth-Petersen (2006), and it applies with fixed as well as with random censoring.
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
Book Description
This note illustrates that the typical parameter, beta, in a censored regression model can be used to calculate an interesting marginal effect even when the errors in the model and the explanatory variables are not independent. The result is relevant for cross sectional models such at the ones considered in Powell (1984), Powell (1986) and Chen and Khan (2000), as well as for panel data models such as the ones in Honore (1992) and Alan and Leth-Petersen (2006), and it applies with fixed as well as with random censoring.
The Statistical Analysis of Interval-censored Failure Time Data
Author: Jianguo Sun
Publisher: Springer
ISBN: 0387371192
Category : Mathematics
Languages : en
Pages : 310
Book Description
This book collects and unifies statistical models and methods that have been proposed for analyzing interval-censored failure time data. It provides the first comprehensive coverage of the topic of interval-censored data and complements the books on right-censored data. The focus of the book is on nonparametric and semiparametric inferences, but it also describes parametric and imputation approaches. This book provides an up-to-date reference for people who are conducting research on the analysis of interval-censored failure time data as well as for those who need to analyze interval-censored data to answer substantive questions.
Publisher: Springer
ISBN: 0387371192
Category : Mathematics
Languages : en
Pages : 310
Book Description
This book collects and unifies statistical models and methods that have been proposed for analyzing interval-censored failure time data. It provides the first comprehensive coverage of the topic of interval-censored data and complements the books on right-censored data. The focus of the book is on nonparametric and semiparametric inferences, but it also describes parametric and imputation approaches. This book provides an up-to-date reference for people who are conducting research on the analysis of interval-censored failure time data as well as for those who need to analyze interval-censored data to answer substantive questions.
Regression Models with (case 2) Interval Censoring
Author: Vasilis Katsikiotis
Publisher:
ISBN:
Category : Estimation theory
Languages : en
Pages : 180
Book Description
Publisher:
ISBN:
Category : Estimation theory
Languages : en
Pages : 180
Book Description
The Value of Signals in Hidden Action Models
Author: Wendelin Schnedler
Publisher: Springer Science & Business Media
ISBN: 3790827061
Category : Business & Economics
Languages : en
Pages : 165
Book Description
Since the fundamental work of Walras (1874), markets have received particular attention by economists because they lead to an efficient allocation of goods and services. However, the proper functioning of markets rests on certain assumptions. For instance, the good or ser vice which is to be traded must be clearly defined. This elementary requirement is often violated in reality, in particular when services are concerned. Consider the example of railway workers who are hired to lay tracks. A labour contract which stipulates a fixed wage and defines the workers' task as "laying tracks" is rather unspecific. Workers may profit from this vagueness by reducing effort to a comfortable amount -as long as tracks are laid, they do not violate contract conditions. Thus, an im precise definition of the service can result in inefficiently low efforts. An obvious solution to this problem is a clearer definition of the ser vice, but often this way is barred: To specify, for instance, all actions which are involved in laying tracks and which may vary with weather, surface and other conditions is far too complicated and too costly. In deed, labour contracts seldom give a detailed account of the task of a worker. Alternatively to a more precise task description, the wage of the worker could be conditioned on information about the worker's performance. For example, the railway workers might be paid by the length of tracks laid so that they are motivated to exert more effort.
Publisher: Springer Science & Business Media
ISBN: 3790827061
Category : Business & Economics
Languages : en
Pages : 165
Book Description
Since the fundamental work of Walras (1874), markets have received particular attention by economists because they lead to an efficient allocation of goods and services. However, the proper functioning of markets rests on certain assumptions. For instance, the good or ser vice which is to be traded must be clearly defined. This elementary requirement is often violated in reality, in particular when services are concerned. Consider the example of railway workers who are hired to lay tracks. A labour contract which stipulates a fixed wage and defines the workers' task as "laying tracks" is rather unspecific. Workers may profit from this vagueness by reducing effort to a comfortable amount -as long as tracks are laid, they do not violate contract conditions. Thus, an im precise definition of the service can result in inefficiently low efforts. An obvious solution to this problem is a clearer definition of the ser vice, but often this way is barred: To specify, for instance, all actions which are involved in laying tracks and which may vary with weather, surface and other conditions is far too complicated and too costly. In deed, labour contracts seldom give a detailed account of the task of a worker. Alternatively to a more precise task description, the wage of the worker could be conditioned on information about the worker's performance. For example, the railway workers might be paid by the length of tracks laid so that they are motivated to exert more effort.
Specification and Estimation of the Censored Regression Model in the Presence of the Stochastic Parameter Variation
Author: Petros Ioannatos
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 254
Book Description
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 254
Book Description
The Theory and Practice of Econometrics
Author: George G. Judge
Publisher: John Wiley & Sons
ISBN: 047189530X
Category : Business & Economics
Languages : en
Pages : 1062
Book Description
This broadly based graduate-level textbook covers the major models and statistical tools currently used in the practice of econometrics. It examines the classical, the decision theory, and the Bayesian approaches, and contains material on single equation and simultaneous equation econometric models. Includes an extensive reference list for each topic.
Publisher: John Wiley & Sons
ISBN: 047189530X
Category : Business & Economics
Languages : en
Pages : 1062
Book Description
This broadly based graduate-level textbook covers the major models and statistical tools currently used in the practice of econometrics. It examines the classical, the decision theory, and the Bayesian approaches, and contains material on single equation and simultaneous equation econometric models. Includes an extensive reference list for each topic.