ESTIMATION OF CONTINUOUS MODELS ON THE BASIS OF SET-VALUED OBSERVATIONS

Bernard van Praag and J. P. Hop

No 272362, Econometric Institute Archives from Erasmus University Rotterdam

Abstract: In many empirical applications the phenomenon (Y,X) in which we are interested and for which we assume a model Y=f(X;04- e , cannot be observed exactly. Then we can only. say that (Y,X) eA clen+11 where A is a point set. Probit Tobit or discrete choice models are examples. In those cases we say that the observations are set-valued and that the latent phenomenon is observed through a filter . For the model Y=BX-1-e we present a general MIA-method for estimating B and E(eet) which bypasses the well-known problem of the computation of multi-dimensional integrals. Examples.are given for the case where we only observe max(Y1,Y2,Y ) or max (Y1,...,Y6).

Keywords: Agricultural and Food Policy; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 37
Date: 1987-02-15
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eureia:272362

DOI: 10.22004/ag.econ.272362

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