Measurement Error and Latent Variables in Econometrics
Wansbeek, Tom J.
Sold by PBShop.store US, Wood Dale, IL, U.S.A.
AbeBooks Seller since 7 April 2005
New - Hardcover
Condition: New
Ships within U.S.A.
Quantity: Over 20 available
Add to basketSold by PBShop.store US, Wood Dale, IL, U.S.A.
AbeBooks Seller since 7 April 2005
Condition: New
Quantity: Over 20 available
Add to basketNew Book. Shipped from UK. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000.
Seller Inventory # L1-9780444881007
The book first discusses in depth various aspects of the well-known inconsistency that arises when explanatory variables in a linear regression model are measured with error. Despite this inconsistency, the region where the true regression coeffecients lies can sometimes be characterized in a useful way, especially when bounds are known on the measurement error variance but also when such information is absent. Wage discrimination with imperfect productivity measurement is discussed as an important special case.
Next, it is shown that the inconsistency is not accidental but fundamental. Due to an identification problem, no consistent estimators may exist at all. Additional information is desirable. This information can be of various types. One type is exact prior knowledge about functions of the parameters. This leads to the CALS estimator. Another major type is in the form of instrumental variables. Many aspects of this are discussed, including heteroskedasticity, combination of data from different sources, construction of instruments from the available data, and the LIML estimator, which is especially relevant when the instruments are weak.
The scope is then widened to an embedding of the regression equation with measurement error in a multiple equations setting, leading to the exploratory factor analysis (EFA) model. This marks the step from measurement error to latent variables. Estimation of the EFA model leads to an eigenvalue problem. A variety of models is reviewed that involve eignevalue problems as their common characteristic.
EFA is extended to confirmatory factor analysis (CFA) by including restrictions on the parameters of the factor analysis model, and next by relating the factors to background variables.
These models are all structural equation models (SEMs), a very general and important class of models, with the LISREL model as its best-known representation, encompassing almost all linear equation systems with latent variables.
Estimation of SEMs can be viewed as an application of the generalized method of moments (GMM). GMM in general and for SEM in particular is discussed at great length, including the generality of GMM, optimal weighting, conditional moments, continuous updating, simulation estimation, the link with the method of maximum likelihood, and in particular testing and model evaluation for GMM.
The discussion concludes with nonlinear models. The emphasis is on polynomial models and models that are nonlinear due to a filter on the dependent variables, like discrete choice models or models with ordered categorical variables.
"...Graduate - or advanced undergraduate - level textbook deals with measurement error and latent variables in econometrics." --Journal of Economic Literature
"...for all researchers who are concerned with measurement error and latent variables the book is highly recommended." --Zentralblatt Fur Mathematik
"Represents an important addition to the literature and will be a useful reference for both graduate students and researchers working in this area. The authors should also be complimented on the style of presentation. Finally, most results are derived formally which, although adding to the level of technical sophistication required by the reader, is to be applauded." --Journal of Applied Econometrics
"...This book will be very useful for applied researchers who are interested in data contaminations. The treatment of measurement errors is very comprehensive and rigorous. Most of the mathematical derivations are given in detail. This feature will make the book particularly appealing to graduate students studying econometrics. It will be a welcome addition to any library collection." --Mathematical Reviews
"...I strongly encourage using this book as a basis for an advanced course on latent variable models and/or structural equation models for an Economics or Management audience. ....One of the strongest points of the book is its courageous integration of the Econometrics, Statistics and Psychometrics literatures. ...All in all, this is an excellent book which deserves a careful reading.." --Psychometrika
"...After reading the book, I believe that it will help econometricians to appreciate psychometrics and, hopefully, it will inspire pyschometricians to consider work in Econometrics. ...This is an excellent book which I strongly recommend reading carefully. Needless to say, this book is no light reading. Given the amount of material covered in just over 400 pages the writing is often terse and demanding on the reader, particularly if s/he has not been exposed previously to the Econometrics literature. But the efforts are well worth it, the book is a gem." --Psychometrika
"About this title" may belong to another edition of this title.
Returns Policy
We ask all customers to contact us for authorisation should they wish to return their order. Orders returned without authorisation may not be credited.
If you wish to return, please contact us within 14 days of receiving your order to obtain authorisation.
Returns requested beyond this time will not be authorised.
Our team will provide full instructions on how to return your order and once received our returns department will process your refund.
Please note the cost to return any...
If you are a consumer you can cancel the contract in accordance with the following. Consumer means any natural person who is acting for purposes which are outside his trade, business, craft or profession.
INFORMATION REGARDING THE RIGHT OF CANCELLATION
Statutory Right to cancel
You have the right to cancel this contract within 14 days without giving any reason.
The cancellation period will expire after 14 days from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the the last good or the last lot or piece.
To exercise the right to cancel, you must inform us, Paperbackshop-US, 901 Penhorn Avenue, Unit 6, 07094, Secaucus, New Jersey, U.S.A., 44 1285 712917, of your decision to cancel this contract by a clear statement (e.g. a letter sent by post, fax or e-mail). You may use the attached model cancellation form, but it is not obligatory. You can also electronically fill in and submit a clear statement on our website, under "My Purchases" in "My Account". If you use this option, we will communicate to you an acknowledgement of receipt of such a cancellation on a durable medium (e.g. by e-mail) without delay.
To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.
Effects of cancellation
If you cancel this contract, we will reimburse to you all payments received from you, including the costs of delivery (except for the supplementary costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us).
We may make a deduction from the reimbursement for loss in value of any goods supplied, if the loss is the result of unnecessary handling by you.
We will make the reimbursement without undue delay, and not later than 14 days after the day on which we are informed about your decision to cancel with contract.
We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.
We may withhold reimbursement until we have received the goods back or you have supplied evidence of having sent back the goods, whichever is the earliest.
You shall send back the goods or hand them over to us or Paperbackshop-US, PaperbackShopUS, 801 Penhorn Avenue Unit 5, 07094, Secaucus, New Jersey, U.S.A., 44 1285 712917, without undue delay and in any event not later than 14 days from the day on which you communicate your cancellation from this contract to us. The deadline is met if you send back the goods before the period of 14 days has expired. You will have to bear the direct cost of returning the goods. You are only liable for any diminished value of the goods resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the goods.
Exceptions to the right of cancellation
The right of cancellation does not apply to:
Model withdrawal form
(complete and return this form only if you wish to withdraw from the contract)
To: (Paperbackshop-US, 901 Penhorn Avenue, Unit 6, 07094, Secaucus, New Jersey, U.S.A., 44 1285 712917)
I/We (*) hereby give notice that I/We (*) withdraw from my/our (*) contract of sale of the following goods (*)/for the provision of the following goods (*)/for the provision of the following service (*),
Ordered on (*)/received on (*)
Name of consumer(s)
Address of consumer(s)
Signature of consumer(s) (only if this form is notified on paper)
Date
* Delete as appropriate.
Books are shipped from our US or UK warehouses. Delivery estimates allow for delivery from either location.
| Order quantity | 7 to 14 business days | 7 to 14 business days |
|---|---|---|
| First item | £ 0.00 | £ 0.00 |
Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.