1 / 30

Nonrandom Sampling and Tobit Models

benson
Download Presentation

Nonrandom Sampling and Tobit Models

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. Nonrandom Sampling and Tobit Models ECON 721

    2. Different Types of Sampling Random sampling Censored sampling Truncated sampling Nonrandom Exogenous stratified Endogenous stratified Choice-based

    6. Tobit Models Main reference: Amemiya, Chapter 10

    7. Type I Tobit Model Tobin’s (1958) example – expenditure on a durable good only observed if expenditure exceeds the minimum price available.

    9. Truncated Type I Tobit Only observe data for people who purchased the good (e.g. gather data at appliance store)

    10. Ways of Estimating Tobit Model MLE If censored, estimating probit and get coefficients up to scale By OLS using results for conditional means of truncated normal random variables

    12. Heckman’s Two-Step Procedure

    13. NLLS

    14. Tobit Type III Model

    16. likelihood

    18. Estimation by MLE

    20. Example: Gronau’s female labor supply model

    23. Heckman’s female labor supply model (explains choice of H as well)

    25. Type III Tobit Model (observe both wages and hours)

    27. Estimation MLE Two-step method

    28. Type V Tobit Model

More Related