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The maximum likelihood estimator for the regression coefficients, β, in a panel binary response model with fixed …) bias in β^. We add to this literature in two important ways. First, we focus on estimation of the fixed effects proper, as … these have become increasingly important in applied work.Second, we build on a bias-reduction approach originally developed …
Persistent link: https://www.econbiz.de/10012942104
new method to correct for attrition bias. We rely on a 10-years longitudinal data set with a final attrition rate of 10 …
Persistent link: https://www.econbiz.de/10012957495
This paper introduces bias-corrected estimators for nonlinear panel data models with both time invariant and time …/selection bias. We then estimate the primary equation by fixed effects including an appropriately constructed control function from … both steps might employ nonlinear fixed effects procedures it is necessary to bias adjust the estimates due to the …
Persistent link: https://www.econbiz.de/10013317161
This paper compares various forecasts using panel data with spatial error correlation. The true data generating process … rather than homogeneous panel data models …
Persistent link: https://www.econbiz.de/10013158526
happiness. However, whether it is accurate is an open question. Based on individual panel data, we explore whether home buyers …
Persistent link: https://www.econbiz.de/10012827351
-growth bias (EGB) and present bias (PB). We find that EGB, the tendency to neglect compounding, and PB, the tendency to value the …
Persistent link: https://www.econbiz.de/10012911197
Exponential growth bias (EGB) is the pervasive tendency of people to perceive a growth process as linear when, in fact … positive cases in the future. The bias is positively correlated with optimistic expectations about the future macroeconomic … to Baseline, b) Feedback-N, Feedback-G, and Forecast significantly reduce bias relative to both Baseline and Step, c) the …
Persistent link: https://www.econbiz.de/10012823853
Prediction markets – markets used to forecast future events – have been used to accurately forecast the outcome of political contests, sporting events, and, occasionally, economic outcomes. This chapter summarizes the latest research on prediction markets in order to further their...
Persistent link: https://www.econbiz.de/10013103480
Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management - in both the public and private sectors. This paper outlines five open questions in the literature,...
Persistent link: https://www.econbiz.de/10013317671
This paper develops a simulation estimation algorithm that is particularly useful for estimating dynamic panel data …
Persistent link: https://www.econbiz.de/10012764470