Quasi-maximum likelihood estimation of a censored equation system with a copula approach: meat consumption by U.S. individuals
A copula approach to censored system estimation is proposed. The quasi-maximum likelihood estimator departs from the multivariate normal error distribution predominantly used in existing estimators and resolves the computational difficulty with multiple probability integrals in high-dimensional censored systems. An application to individual meat consumption demonstrates that the procedure produces very different empirical estimates from existing Gaussian full-information and quasi-maximum likelihood estimates. Copyright (c)2008 International Association of Agricultural Economists.
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Volume (Year): 39 (2008)
Issue (Month): 2 (09)
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