A COMPARISON OF TOBIT AND OLS ESTIMATES OF JAPANESE PEANUT IMPORT DEMAND

X. L. Wu

Journal of Agricultural Economics, 1992, vol. 43, issue 1, 38-42

Abstract: A Tobit analysis is applied to estimate Japanese peanut imports under quota restrictions for the period 1973–1988, and to assess the bias when the presence of quota is ignored by using OLS estimation. The results show that biased estimates are obtained by using OLS in the presence of quota restrictions.

Date: 1992
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