Ramalho, Esmeralda A.; Ramalho, Joaquim J. S. - Centro de Estudos e Formação Avançada em Gestão e … - 2009
In this paper we examine theoretically and by simulation whether or not unobserved heterogeneity independent of the included regressors is really an issue in logit, probit and loglog models with both binary and fractional data. We found that unobserved heterogeneity: (i) produces an attenuation...