arXiv 14 Nov 2024 · Econometrics
arXiv:2411.09771 · PDF · DOI · OpenAlex · Extracted main text
This paper outlines a Bayesian approach to estimate finite mixtures of Tobit models. The method consists of an MCMC approach that combines Gibbs sampling with data augmentation and is simple to implement. I show through simulations that the flexibility provided by this method is especially helpful when censoring is not negligible. In addition, I demonstrate the broad utility of this methodology with applications to a job training program, labor supply, and demand for medical care. I find that this approach allows for non-trivial additional flexibility that can alter results considerably and beyond improving model fit.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Chib, S (1992) Bayes inference in the Tobit censored regression model | 0.811 | 4 | 2 | 100% |
| 2 | Deb, P. and Trivedi, P. K (1997) Demand for medical care by the elderly: A finite mixture approach | 0.811 | 4 | 2 | 100% |
| 3 | Dehejia, R. H. and Wahba, S (1999) Causal effects in nonexperimental studies: Reevaluating the evaluation of training programs | 0.811 | 4 | 2 | 100% |
| 4 | Lalonde, R. J (1986) Evaluating the econometric evaluations of training programs with experimental data | 0.811 | 4 | 2 | 100% |
| 5 | Jedidi, K., Ramaswamy, V., and Desarbo, W. S (1993) A maximum likelihood method for latent class regression involving a censored dependent variable | 0.737 | 3 | 2 | 100% |
| 6 | Diebolt, J. and Robert, C. P (1994) Estimation of finite mixture distributions through Bayesian sampling | 0.644 | 2 | 2 | 100% |
| 7 | Keane, M. and Stavrunova, O (2011) A smooth mixture of Tobits model for healthcare expenditure | 0.511 | 2 | 1 | 100% |
| 8 | Amemiya, T (1973) Regression analysis when the dependent variable is truncated normal | 0.405 | 1 | 1 | 100% |
| 9 | Arellano-Valle, R. B., Castro, L. M., González-Farías, G., and Muñoz… (2012) Student-$t$ censored regression model: Properties and inference | 0.405 | 1 | 1 | 100% |
| 10 | Busse, M. R., Israeli, A., and Zettelmeyer, F (2017) Repairing the damage: The effect of price knowledge and gender on auto repair price quotes | 0.405 | 1 | 1 | 100% |
Showing the top 10 of 35 scored citations.