Reichert, Arndt; Tauchmann, Harald - In: Applied Economics 46 (2014) 7, pp. 762-768
The classical Heckman (1976, 1979) selection correction estimator (heckit) is misspecified and inconsistent, if an interaction of the outcome variable with an explanatory variable matters for selection. To address this specification problem, a full information maximum likelihood (FIML) estimator...