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...

We extend the Tobit (censored) linear equation system procedure to utility-theoretic demand functions, along with a mapping mechanism to impose the adding-up restriction implied by consumer utility maximization theory—a theoretical restriction very often ignored in previous empirical studies...