Posts Tagged ‘ tobit model ’

Bayesian Models with Censored Data: A comparison of OLS, tobit and bayesian models

September 17, 2011
By
Bayesian Models with Censored Data: A comparison of OLS, tobit and bayesian models

The following R code models a censored dependent variable (in this case academic aptitude) using a traditional least squares, tobit, and Bayesian approaches.  As depicted below, the OLS estimates (blue) for censored data are inconsistent and will ...

Read more »