Bias of OLS Estimators due to Exclusion of Relevant Variables and Inclusion of Irrelevant Variables

Deepankar Basu ()
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Deepankar Basu: Department of Economics, University of Massachusetts - Amherst

UMASS Amherst Economics Working Papers from University of Massachusetts Amherst, Department of Economics

Abstract: In this paper I discuss three issues related to bias of OLS estimators in a general multivariate setting. First, I discuss the bias that arises from omitting relevant variables. I offer a geometric interpretation of such bias and derive su

Keywords: omitted variable; irrelevant variables; ordinary least squares; bias (search for similar items in EconPapers)
JEL-codes: C20 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-ecm
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