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识别内生解释变量参数的简约工具变量替代方法AI 解读

Abstract A review of the econometric literature on instrumental variables (IV) estimation shows that the performance of traditional IV estimation relies critically on the quality of the instruments. We discuss three different approaches that do not require the availability of observed instrumental variables: the ‘Higher Moments’ (HM) estimator, the ‘Identification trough Heteroscedasticity’ (IH) estimator, and the ‘Latent Instrumental Variable’ (LIV) approach. These methods…

改善多项Logit有限混合模型个体估计与预测的经验贝叶斯方法AI 解读

with by specifying either a multinomial or a normal distribution of the coefficients, leading to finite mixture logit and mixed logit models. Focusing on the former, we show that individual-level estimates and predictions of finite mixtures estimated by maximizing the likelihood function can be improved through integration over the estimation error of the hyperparameters, using an empirical Bayes approach. We investigate the conjecture that this approach is more robust…