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A finite dependent variable is a variable whose range of possible values ​​is "limited in some important ways." In econometrics, the term is often used when the estimate of the relationship between an unlimited dependent variable is interesting and another variable requires a method that takes into account this restriction. For example, this may arise when the interest variable is limited to lies between zero and one, as in the case of probability, or is limited to positive, as in the case of wages or hours of work.
Unlimited dependent variable models include:
- Censoring, where for some individuals in a set of data, some data is lost but other data exists;
- Cutting, in which some individuals are systematically excluded from observation (failure to consider this phenomenon may lead to selection bias);
- Different results, such as binary decisions or qualitative data are limited to a small number of categories. Discrete choice models may have irregular or regular alternatives; ordered alternatives can take the form of calculated or ranked rating data ordered (such as Likert scale).
Video Limited dependent variable
See also
- Logit, logit model, command logit
- Multivariate probit model
- Probit, probit model, ordered probit
- Tobit model
Maps Limited dependent variable
See also
- Censored regression model
- Selected biases
- The cropped regression model
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References
Source of the article : Wikipedia
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