This study examined characteristics of individual bond and stock holders, using data from the 1989 Survey of Consumer Finances. The results of the tobit models showed bonds and stocks are more likely to be held by families with adequate financial resources to maintain daily lives and enough funds to meet short term financial needs. Households having a financial planning horizon of ten years or ...

Errors in variables models in linear regression are an old and important theoretical topic, but rather neglected in applied statistics. This is especially true for Bayesian statistics where the numerical diiculties for the estimation of the models are even greater. Using a Bayesian approach and modern numerical integration techniques (the Gibbs sampler) we derive the necessary full conditional ...

Tobit models are extended to allow threshold values which depend on individuals’ characteristics. In such models, the parameters are subject to as many inequality constraints as the number of observations, and the maximum likelihood estimation which requires the numerical maximisation of the likelihood is often difficult to be implemented. Using a Bayesian approach, a Gibbs sampler algorithm is...

It has been documented that about 20% of children and adolescents suffer from a diagnosable mental or addictive disorder in the United States. The high prevalence of children's emotional and behavioral problems (EBP) might have a negative effect on their mothers' labor market outcomes because children with EBP require additional time for treatment. However, these children may require additional...

We develop a statistical model of browsing behavior by predicting the number of web pages, in a particular category, that are viewed by a user in a single web session. The purpose of this analysis is to better understand web browsing behavior, and to help predict which sessions are likely to result in retail visits. A single record in our database consists of the number of web pages viewed by a...

PURPOSE To map health outcome related variables from a national register, not part of any validated instrument, with EQ-5D weights among stroke patients. METHODS We used two cross-sectional data sets including patient characteristics, outcome variables and EQ-5D weights from the national Swedish stroke register. Three regression techniques were used on the estimation set (n=272): ordinary lea...

This paper considers the censored regression model under the assumption that the regressors are integrated. We show that Maximum Likelihood estimation is superconsistent and asymptotically mixed normal, implying that standard inference techniques remain valid, and that in general least squares estimation based on the positive observations only is superconsistent, but not mixed normal. An except...

Fixed effects estimators of panel models can be severely biased because of the wellknown incidental parameters problem. We develop analytical and jackknife bias corrections for nonlinear models with both individual and time effects. For asymptotics where the time-dimension (T ) grows with the cross-sectional dimension (N), the time effects introduce additional incidental parameter bias. As the ...