کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7383586 1480522 2018 21 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Tobit models with social interactions: Complete vs incomplete information
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Tobit models with social interactions: Complete vs incomplete information
چکیده انگلیسی
In many network data sets, the outcomes of interest are equal to zero for some agents and strictly positive for others. They can be analyzed by Tobit models with social interactions with different assumptions on information structures. Under complete information, all the observables and unobservables are publicly known. Under incomplete information, unobservables and some covariates collected by econometricians can be private information for agents. In practice, both scenarios can be feasible but will lead to different implications. A non-nested Cox-type test is proposed for the specification test. We use the Monte Carlo simulations to demonstrate its small sample properties. When applying our test to study property tax rates among adjacent municipalities in North Carolina, significant competing effects are found under both information structures. However, the Cox test is in favor of the complete information model, which implies a much larger income marginal effects and a much smaller population marginal effects on tax rates, compared to the model with incomplete information.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Regional Science and Urban Economics - Volume 73, November 2018, Pages 30-50
نویسندگان
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