A Censored Random Coefficients Model For Pooled Survey Data With Application To The Estimation Of Power Outage Costs

A-Tier
Journal: Review of Economics and Statistics
Year: 2002
Volume: 84
Issue: 3
Pages: 552-561

Authors (2)

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In many surveys, multiple observations on the dependent variable are collected from a given respondent. The resulting pooled data set is likely to be censored and to exhibit cross-sectional heterogeneity. We propose a model that addresses both issues by allowing regression coefficients to vary randomly across respondents and by using the GewekeHajivassiliou-Keane simulator and Halton sequences to estimate highorder probabilities. We show how this framework can be usefully applied to the estimation of power outage costs to firms using data from a recent survey conducted by a U.S. utility. Our results strongly reject the hypotheses of parameter constancy and cross-sectional homogeneity. © 2002 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

Technical Details

RePEc Handle
repec:tpr:restat:v:84:y:2002:i:3:p:552-561
Journal Field
General
Author Count
2
Added to Database
2026-01-26