Showing 1 - 3 of 3
This paper considers model selection in nonlinear panel data models where incidental parameters or large-dimensional nuisance parameters are present. Primary interest typically centers on selecting a model that best approximates the underlying structure involving parameters that are common...
Persistent link: https://www.econbiz.de/10010701001
Our research addresses fundamental long-standing concerns in the compensating wage differentials literature and its public policy implications: the econometric properties of estimates of the value of statistical life (VSL) and the wide range of such estimates from about $0 to almost $30 million....
Persistent link: https://www.econbiz.de/10008470287
We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions with intercept heterogeneity. Latent heterogeneity is econometrically important and affects the estimated VSL. Our findings indicate that a reasonable average cost...
Persistent link: https://www.econbiz.de/10008461776