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The classical trinity of tests is used to check for the presence of a tremble in economic experiments in which the response variable is binary. A tremble is said to occur when an agent makes a decision completely at random, without regard to the values taken by the explanatory variables. The...
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This study extends experimental tests of (cumulative) prospect theory (PT) over prospects with more than three outcomes and tests second-order stochastic dominance principles (Levy and Levy, Management Science 48:1334–1349, <CitationRef CitationID="CR44">2002</CitationRef>; Baucells and Heukamp, Management Science 52:1409–1423, <CitationRef CitationID="CR10">2006</CitationRef>)....</citationref></citationref>
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When values of regressors are symmetrically disposed, many <italic>M</italic>-estimators in a wide class of models have a reflection property, namely, that as the signs of the coefficients on regressors are reversed, their estimators' sampling distribution is reflected about the origin. When the coefficients are...
Persistent link: https://www.econbiz.de/10005610501
This article notes that it is now practical to use the method of enumeration to analyse the performance of estimators and hypothesis tests of fully parametric binary data models. The general method is presented and then employed to investigate the power performance of a common misspecification...
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The letter notes that a generalized RESET test can be employed as a test for misspecification in a variety of parametric and semi-parametric micro-econometric models. The test's performance is illustrated using three models commonly used in labour supply studies: the linear, censored (Tobit),...
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This paper examines UK migration policy and recent migration flows from Eastern Partnership (EaP) countries to the UK. Although inflows of migrant workers were relatively large in the mid-2000s, especially amongst Ukrainians, these have fallen following changes to UK immigration policy,...
Persistent link: https://www.econbiz.de/10010959793