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Nonrandom Sampling and Tobit Models

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Nonrandom Sampling and Tobit Models

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    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 Tobins (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. Heckmans Two-Step Procedure

    13. NLLS

    14. Tobit Type III Model

    16. likelihood

    18. Estimation by MLE

    20. Example: Gronaus female labor supply model

    23. Heckmans 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

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