Tobit models with social interactions: Complete vs incomplete information

doi:10.1016/j.regsciurbeco.2018.07.007

CORC > 上海财经大学 > 上海财经大学

	Tobit models with social interactions: Complete vs incomplete information
	Yang, Chao 1,2; Lee, Lung-fei 3; Qu, Xi 4
刊名	REGIONAL SCIENCE AND URBAN ECONOMICS
	2018-11
卷号	73 页码:30-50
关键词	Tobit models Cox test Complete information Incomplete information Social interactions
ISSN号	0166-0462
DOI	10.1016/j.regsciurbeco.2018.07.007
英文摘要	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.
WOS研究方向	Business & Economics ; Environmental Sciences & Ecology ; Urban Studies
语种	英语
出版者	ELSEVIER SCIENCE BV
WOS记录号	WOS:000454382000003
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/471]
专题	上海财经大学
通讯作者	Qu, Xi
作者单位	1.Shanghai Univ Finance & Econ, Sch Econ, Shanghai, Peoples R China; 2.SUFE, Key Lab Math Econ, Minist Educ, Shanghai, Peoples R China; 3.Ohio State Univ, Dept Econ, Columbus, OH 43210 USA; 4.Shanghai Jiao Tong Univ, Dept Econ, Antai Coll Econ & Management, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Yang, Chao,Lee, Lung-fei,Qu, Xi. Tobit models with social interactions: Complete vs incomplete information[J]. REGIONAL SCIENCE AND URBAN ECONOMICS,2018,73:30-50.
APA	Yang, Chao,Lee, Lung-fei,&Qu, Xi.(2018).Tobit models with social interactions: Complete vs incomplete information.REGIONAL SCIENCE AND URBAN ECONOMICS,73,30-50.
MLA	Yang, Chao,et al."Tobit models with social interactions: Complete vs incomplete information".REGIONAL SCIENCE AND URBAN ECONOMICS 73(2018):30-50.