A limited dependent variable model under median rationality

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

A bounded-price-variation model where an expectation of a censored endogenous variable appears is examined under the assumption that the expectation is the conditional median, not the conditional mean. The conditional median leads to a simple and intuitive closed form solution for the expectation and relaxes parametric assumptions used in the literature considerably.

Original languageEnglish
Pages (from-to)221-225
Number of pages5
JournalEconomics Letters
Volume54
Issue number3
Publication statusPublished - 1997 Jul 1
Externally publishedYes

Fingerprint

Median
Rationality
Limited dependent variable models
Closed-form solution
Endogenous variables

Keywords

  • Censored variable
  • Median
  • Rational expectation
  • Semiparametrics

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

Cite this

A limited dependent variable model under median rationality. / Lee, Myoung-jae.

In: Economics Letters, Vol. 54, No. 3, 01.07.1997, p. 221-225.

Research output: Contribution to journalArticle

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