Specification and estimation of rating scale models - with an application to the determinants of life satisfaction
AbstractThis article proposes a new class of rating scale models, which merges advantages and overcomes shortcomings of the traditional linear and ordered latent regression models. Both parametric and semi-parametric estimation is considered. The insights of an empirical application to satisfaction data are threefold. First, the methods are easily implementable in standard statistical software. Second, the non-linear model allows for exible marginal effects, and predicted means respect the boundaries of the dependent variable. Third, average marginal effects are similar to ordinary least squares estimates.
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Bibliographic InfoPaper provided by Department of Economics - University of Zurich in its series ECON - Working Papers with number 003.
Date of creation: Jan 2011
Date of revision:
Rating variables; non-linear least squares; quasi-maximum likelihood; semiparametric least squares; subjective well-being;
Other versions of this item:
- Raphael Studer & Rainer Winkelmann, 2011. "Specification and Estimation of Rating Scale Models: With an Application to the Determinants of Life Satisfaction," SOEPpapers on Multidisciplinary Panel Data Research 372, DIW Berlin, The German Socio-Economic Panel (SOEP).
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- I00 - Health, Education, and Welfare - - General - - - General
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