NCJ Number
88429
Date Published
1982
Length
103 pages
Annotation
This paper surveys research on Tobit models, or regression models in which the range of the dependent variable is constrained in some way, as well as on the various estimation methods proposed for these models in order to help econometricians keep track of all existing models and estimation methods and understand their relative merits.
Abstract
The author classifies the diverse Tobit models into five basic types according to the form of the likelihood function. He discusses basic estimation methods, applicable to any of the five types, as well as more specialized estimation methods. Each model is illustrated with a few empirical examples. Notes, over 100 references, and numerous equations are included.