This is the third of three volumes containing edited versions of papers and commentaries presented in invited symposium sessions of the Eighth World Congress of the Econometric Society. The papers summarize and interpret recent key developments and discuss future directions in a wide range of...

This is the second of three volumes containing edited versions of papers and commentaries presented in invited symposium sessions of the Eighth World Congress of the Econometric Society. The papers summarize and interpret recent key developments and discuss future directions in a wide range of...

This is the first of three volumes containing edited versions of papers and commentaries presented in invited symposium sessions of the Eighth World Congress of the Econometric Society. The papers summarize and interpret recent key developments and discuss future directions in a wide range of...

Background: Previous studies in the literature have shown significant variations in colonoscopy performance, even when medical factors are taken into account. This study aimed to examine the role of non-medical factors (i.e. embodied in health care system design) as possible contributors to...

In traditional literature, a number of authors posit that physicians, like a consumer or a firm, adopt maximization behavior, while others claim that they are motivated by the attainment of a target income. These three approaches may seem contradictory, yet the present study aims to show that...

This paper presents two alternative formulations of the instrumental variables (IV) procedure. One of the formulations, termed the "completed model", serves to show, in a general way, that the IV estimator of a vector of regression parameter is asymptotically as efficient as the maximum...

In this paper, we develop a new numerical method to estimate a multivariate probit model. To this end, we derive a new decomposition of normal multivariate integrals that has two appealing properties. First, the decomposition may be written as the sum of normal multivariate integrals, in which...