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Extending Unobserved Heterogeneity - A Strategy for Accounting for Respondent Perceptions in the Absence of Suitable Data

  • Timothy A. Weterings

    ()

  • Mark N. Harris
  • Bruce Hollingsworth

This research proposes that, in cases where threshold covariates are either unavailable or difficult to observe, practitioners should treat these characteristics as latent, and use simulated maximum likelihood techniques to control for them. Two econometric frameworks for doing so in a more flexible manner are proposed. The finite sample performance of these new specifications are investigated with the use of Monte Carlo simulation. Applications of successively more flexible models are then given, with extensive post-estimation analysis utilised to better assess the likely implications of model choice on conclusions made in empirical research.

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File URL: http://www.buseco.monash.edu.au/ebs/pubs/wpapers/2012/wp12-12.pdf
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Paper provided by Monash University, Department of Econometrics and Business Statistics in its series Monash Econometrics and Business Statistics Working Papers with number 12/12.

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Length: 31 pages
Date of creation: May 2012
Date of revision:
Handle: RePEc:msh:ebswps:2012-12
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Web page: http://www.buseco.monash.edu.au/depts/ebs/
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  1. Cunha, Flavio & Heckman, James J. & Navarro, Salvador, 2007. "The Identification and Economic Content of Ordered Choice Models with Stochastic Thresholds," IZA Discussion Papers 2940, Institute for the Study of Labor (IZA).
  2. Nicolas R. Ziebarth, 2009. "Measurement of Health, the Sensitivity of the Concentration Index, and Reporting Heterogeneity," Discussion Papers of DIW Berlin 916, DIW Berlin, German Institute for Economic Research.
  3. Stefan Boes & Rainer Winkelmann, 2005. "Ordered Response Models," SOI - Working Papers 0507, Socioeconomic Institute - University of Zurich.
  4. N Powdthavee, 2008. "Ill-Health as a Household Norm: Evidence from Other People's Health Problems," Discussion Papers 08/21, Department of Economics, University of York.
  5. Stephen Pudney & Michael Shields, . "Gender, Race, Pay and Promotion in the British Nursing Profession: Estimation of a Generalised Ordered Probit Model," Discussion Papers in Public Sector Economics 97/4, Department of Economics, University of Leicester.
  6. Thomas Cornelißen & Christian Pfeifer, 2007. "The Impact of Participation in Sports on Educational Attainment: New Evidence from Germany," SOEPpapers on Multidisciplinary Panel Data Research 68, DIW Berlin, The German Socio-Economic Panel (SOEP).
  7. Julie Litchfield & Barry Reilly & Mario Veneziani, 2010. "An Analysis of Life Satisfaction in Albania: An Heteroscedastic Ordered Probit Model Approach," Working Paper Series 0310, Department of Economics, University of Sussex.
  8. Ziebarth, Nicolas, 2010. "Measurement of health, health inequality, and reporting heterogeneity," Social Science & Medicine, Elsevier, vol. 71(1), pages 116-124, July.
  9. repec:cup:cbooks:9780521142373 is not listed on IDEAS
  10. repec:cup:cbooks:9780521194204 is not listed on IDEAS
  11. William Greene & Mark N. Harris & Bruce Hollingsworth & Timothy A. Weterings, 2014. "Heterogeneity In Ordered Choice Models: A Review With Applications To Self-Assessed Health," Journal of Economic Surveys, Wiley Blackwell, vol. 28(1), pages 109-133, 02.
  12. García-Gómeza, P & Jones, A.M & Rice, N, 2008. "Health effects on labour market exits and entries," Health, Econometrics and Data Group (HEDG) Working Papers 08/03, HEDG, c/o Department of Economics, University of York.
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