Very large data sets in economics are already available and will soon become commonplace. The econometric techniques currently in use may not be relevant and new techniques will have to be devised. It can be argued that most tests of significance, linear models, assumptions of normality, and...

This paper presents one econometric solution to the problems of estimating repeated hazard models with heterogeneity for on- and off-welfare spells, using data from The Washington State Family Income Study, a five-year longitudinal study. We developed a closed form probability that allows for...

We propose a root-N-consistent estimator for binary response panel data where the individual specific effect may be correlated with the regressors. The estimator is asymptotically normal with a simple variance matrix

Many oligopoly theories predict that there will be a positive correlation between market size and the equilibrium number of firms, and some also imply that competition is more intense in larger markets. We test these predictions with a sample of 535 driving schools in 249 markets. With an...