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on Discrete Choice Models |
| By: | David A. Penn |
| Abstract: | Objectives. Most researchers who use survey data must grapple with the problem of how best to handle missing information. This article illustrates multiple imputation, a technique for estimating missing values in a multivariate setting. Methods. I use multiple imputation to estimate missing income data and update a recent study that examines the influence of parents’ standard of living on subjective well-being. Using data from the 1998 General Social Survey, two ordered probit models are estimated; one using complete cases only, and the other replacing missing income data with multiple imputation estimates. Results. The analysis produces two major findings: 1) parents’ standard of living is more important than suggested by the complete cases model, and 2) using multiple imputation can help to reduce standard errors. Conclusions. Multiple imputation allows a researcher to use more of the available data, thereby reducing biases that may occur when observations with missing data are simply deleted. |
| Keywords: | subjective well-being, financial well-being, multiple imputation |
| JEL: | A10 C42 |
| URL: | http://d.repec.org/n?u=RePEc:mts:wpaper:200709&r=dcm |
| By: | Luigi Bonatti |
| Abstract: | This paper shows that two societies differing because of the people’s initial propensity to devote time and efforts to non-profit activities may never converge. This lack of convergence is interpreted as the tendency of the cultural values and attitudes dominant in each society to perpetuate because of the economic behavior and the social processes that they contribute to elicit. Furthermore, it may not be possible to rank the different steady states toward which these two societies converge according to the Paretian criterion. Finally, the paper examines policies that promote values and attitudes non coincident with those that are currently dominant. |
| Keywords: | Economic policy, Multiple steady states, Social capital, Altruism, Non-profit. |
| JEL: | D11 D60 H20 J30 L31 |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:trn:utwpde:0712&r=dcm |