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Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

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Book part
Publication date: 30 July 1993

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Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Book part
Publication date: 23 June 2016

Matthew Harding, Jerry Hausman and Christopher J. Palmer

This paper considers the finite-sample distribution of the 2SLS estimator and derives bounds on its exact bias in the presence of weak and/or many instruments. We then contrast…

Abstract

This paper considers the finite-sample distribution of the 2SLS estimator and derives bounds on its exact bias in the presence of weak and/or many instruments. We then contrast the behavior of the exact bias expressions and the asymptotic expansions currently popular in the literature, including a consideration of the no-moment problem exhibited by many Nagar-type estimators. After deriving a finite-sample unbiased k-class estimator, we introduce a double-k-class estimator based on Nagar (1962) that dominates k-class estimators (including 2SLS), especially in the cases of weak and/or many instruments. We demonstrate these properties in Monte Carlo simulations showing that our preferred estimators outperform Fuller (1977) estimators in terms of mean bias and MSE.

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Essays in Honor of Aman Ullah
Type: Book
ISBN: 978-1-78560-786-8

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Abstract

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Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Book part
Publication date: 30 July 1993

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Book part
Publication date: 30 July 1993

CHARLES R. PLOTT

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Content available
Book part
Publication date: 30 July 1993

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Book part
Publication date: 30 July 1993

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

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