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Testing for information asymmetries in voluntary conservation contracts
(Centro de Investigación y Docencia Económicas, División de Economía, 2007)
We use data from a Maryland farm survey and a multivariate switching regression model with endogenous switching to investigate the effects of information asymmetries on conservation cost sharing contracts. Our estimations ...
FIML estimation of treatment effect models with endogenous selection and multiple censored responses via a Monte Carlo EM algorithm
(Centro de Investigación y Docencia Económicas, División de Economía, 2007)
We formulate a Monte Carlo EM algorithm to estimate treatment effect models involving multiple censored responses. The algorithm has at least three advantages with respect to traditional methods. First, it does not require ...