Seminonparametric Estimation of Binary-Choice Models With an Application to Labor-Force Participation
二元选择模型的半非参数估计及其劳动参与应用
The authors adapt the estimation method proposed by A. R. Gallant and D. N. Nychka (1987) to binary-choice models. They present Monte Carlo and asymptotic comparisons with the probit estimator and discuss optimization algorithms, choice of starting values, and strategies f or choosing the number of parameters used in approximating the density. Seminonparametric estimation is almost as efficient as probit estimation in normal samples and performs better in nonnormal sample s.…