Hsu, Ai-Chi; Liu, Shu-Chin - In: Applied Economics 40 (2007) 2, pp. 201-207
The purpose of this article is to compare and evaluate statistical models for corner solution applications of censored regression. Generally, a double-hurdle model is better than one-part model. Cragg (1971) suggests a double-hurdle model, the truncated normal model, is widely used. However, the...