This paper studies models of processes generating censored outcomes with endogenous explanatory variables and instrumental variable restrictions. Tobit-type left censoring at zero is the primary focus in the exposition. Extension to stochastic censoring is sketched. The models do not specify the...

This study investigates intrahousehold risk preferences in household portfolio decision-making. Most household finance data are collected at the household level, and it is challenging to come up with an explanation of risk-taking decisions and have a direction on the within-household bargaining...

The specific characteristics of family businesses as well as the internationalization path followed can influence the intensity of the internationalization process. Many studies have analyzed how family character can influence the internationalization process of family businesses, and the...

Purpose This study proposes spatial origin-destination threshold Tobit to address spatial interdependence among bilateral trade flows while accounting for zero trade volumes. Design/methodology/approach This model is designed to capture multiple forms of spatial autocorrelation embedded in...

Forest ecosystem economic valuation is responsible for ecologically aware and reasonable gains to the country and particularly to the surrounding groups through different means. Thus, the central objective of this study was to analyze the economic valuation Gedo Natural Forest conservation...

Nowadays, countries are more concerned with the improvement of effectiveness and efficiency in public sector activities in the perspective of frugal innovation. The problem centers around how to obtain more and better public service with the limitations of the public incomes and indebtedness in...

An explanation of the Dunning-Kruger effect is provided which does not require any psychological explanation, because it is derived as a statistical artefact. This is achieved by specifying a simple statistical model which explicitly takes the (random) boundary constraints into account. This...

This paper studies models of processes generating censored outcomes with endogenous explanatory variables and instrumental variable restrictions. Tobit-type left censoring at zero is the primary focus in the exposition. The models studied here are unrestrictive relative to others widely used in...

Applied economists have long struggled with the question of how to accommodate binary endogenous regressors in models with binary and non-negative outcomes. I argue here that much of the difficulty with limited-dependent variables comes from a focus on structural parameters, such as index...

We consider the sensitivity of the Tobit estimator to heteroscedasticity. Our single independent variable is a dummy variable whose coefficient is a difference between group means, and the error variance differs between groups. Heteroscedasticity biases the Tobit estimate of the two means in...

The logit-weighted reduced mixture of experts model (LRMoE) is a flexible yet analytically tractable non-linear regression model. While it has shown usefulness in modeling insurance loss frequencies and severities, model calibration becomes challenging when censored and truncated data are...

In this paper, a decomposition method for Tobit-models is derived, which allows the differences in a censored outcome variable between two groups to be decomposed into a part that is explained by differences in observed characteristics and a part attributable to differences in the estimated...

The context of community-based interventions presents formidable problems for any evaluation analysis. Group-randomized studies do possess ideal properties in theory, but in practice, group-randomization might not be a feasible alternative at all or group-randomized studies might be...

The paper studies the degree of homogeneity of innovative behavior in order to determine empirically an industry classification of Dutch manufacturing that can be used for policy purposes. We use a two limit tobit model with sample selection, which explains the decisions by business enterprises...

This article considers a wide class of censoring problems and presents a construction rule for an objective function. This objective function generalises the ordinary likelihood as well as particular "likelihoods" used for estimation in several censoring models. Under regularity conditions the...

The general financial stress confronting Chinese local governments requires public spending to become more efficient. While previous work has attempted to study what determines the efficiency, the focus was put on various factors that were not under direct control by policymakers. This paper...

We use a dynamic panel Tobit model with heteroskedasticity to generate point, set, and density forecasts for a large cross-section of short time series of censored observations. Our fully Bayesian approach allows us to flexibly estimate the cross-sectional distribution of heterogeneous...

We use a dynamic panel Tobit model with heteroskedasticity to generate point, set, and density forecasts for a large cross-section of short time series of censored observations. Our fully Bayesian approach allows us to flexibly estimate the cross-sectional distribution of heterogeneous...

We use a dynamic panel Tobit model with heteroskedasticity to generate point, set, and density forecasts for a large cross-section of short time series of censored observations. Our fully Bayesian approach allows us to flexibly estimate the cross-sectional distribution of heterogeneous...

The virtuous cycle of higher savings, capital formation, output expansion and higher income generation underscores the role of higher savings in achieving and sustaining higher economic growth. This becomes more relevant for an economically weaker state like Odisha, which needs to sustain high...

The goal of this paper is to investigate effects of national systems of entrepreneurship on the country level efficiency, on addition we find what macro factors affect efficiency as well. From a comprehensive database of 59 countries using GEM, WDI, WCI for 2018 using data envelopment analysis...

There is a renewed debate on the role of exchange rate policies as an industrial policy tool in both academic and policy circles. Policy practitioners usually examine real exchange rate misalignments to monitor the behavior of this key relative price and, if possible, exploit distortions in the...

This paper evaluates the performance of alternative estimators of the gravity equation when zero trade flows result from economically-based data-generating processes with heteroscedastic residuals and potentially-omitted variables. In a standard Monte Carlo analysis, the paper finds that this...

The analysis of household energy consumption patterns is critical for evaluating public mechanisms, such as subsidies and social tariffs that aim to provide lower income earners with better access to energy sources. This paper focuses on Mexican households to analyze the relations between their...

This study examines the factors that impact the dividend payout ratio of Turkish firms that are listed in Borsa Istanbul-100 Index for the period 2005-2013. Random-effect Tobit panel regression is used in order to investigate the determinants of dividend policy. According to the empirical...

We examine the value of sporting success of the 2014 Football World Cup in Brazil by using a method that allows measuring non-market goods, the contingent valuation method (CVM). Besides the value of sporting success in form of the willingness-to-pay (WTP), we determine what influences the WTP...