Parametric Estimators for Multiple Equations
In Chapter 4, we studied MLE in general and introduced various single equation examples of MLE. In this chapter, our focus is on parametric estimators for multiple equations. We will discuss MLE, but we will also study other parametric estimators perhaps less efficient than MLE but more convenient and robust in practice. Since multiple equations are more difficult to handle than single equations, this chapter is, in general, more difficult than the preceding chapter.
KeywordsParametric Estimator Choice Probability Multiple Equation Switching Regression Model Multinomial Choice
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