Random Parameters and Self-Selection Models

Pramila Krishnan

Empirical Economics, 1993, vol. 18, issue 2, 197-213

Abstract: Most empirical work employs models with fixed parameters. In contrast, I discuss the specification of self-selection models with random parameters. I demonstrate that in a self-selection model, misspecification of the parameter structure as constant causes biased estimates, especially of the selectivity effect. I estimate a self-selection model of moonlighting with random parameters and find that the selectivity effect, which was almost absent in the constant parameter version of the model, is indeed significant.

Date: 1993
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Working Paper: Random Parmeters and Self-Selection Models (1989)
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