We conduct an experiment to (i) measure the structure of preferences over lotteries and (ii) test for stability of the probability transformation functions over different choice sets. The design is based on manipulations of the 'probability triangle' A disaggregated nonparametric analysis in...

This paper addresses the estimation of a semiparametric sample selection index model where both the selection rule and the outcome variable are binary. Since the marginal effects are often of primary interest and are difficult to recover in a semiparametric setting, we develop estimators for...

We propose instrumental variable(IV) estimators for quantile marginal effects and the parameters upon which they depend in a semiparametric outcome model with endogenous discrete treatment variables. We prove identification, consistency, and asymptotic normality of the estimators. We also show...

It is well known that it is important to control the bias in estimating conditional expectations in order to obtain asymptotic normality for quantities of interest (e.g. a finite dimensional parameter vector in semiparametric models or averages of marginal effects in the nonparametric case). For...

Has financial liberalization improved the efficiency with which investment funds are allocated to competing uses? In this paper, we address this question using firm-level panel data from 12 developing countries. We develop a summary index of the efficiency of investment allocation that measures...