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Testing and Correcting for Distributional Misspecifications in the Tobit Model: An Application of the Information Matrix Test

Author

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  • Reynolds, Anderson
  • Shonkwiler, J S
Abstract
Recognizing that misspecification in the form of heteroskedasticity and non-normality yields inconsistent parameter estimates of the Tobit model, the Information Matrix Misspecification test was used to detect violations of the distributional assumptions of the Tobit model applied to fresh winter vegetable consumption. The test suggested that the Tobit model was misspecified. However, following a correction for heteroskedasticity and the introduction of the inverse hyperbolic sine transformation to limit outliers, the resulting specification could not be rejected at conventional levels of significance.

Suggested Citation

  • Reynolds, Anderson & Shonkwiler, J S, 1991. "Testing and Correcting for Distributional Misspecifications in the Tobit Model: An Application of the Information Matrix Test," Empirical Economics, Springer, vol. 16(3), pages 313-323.
    • Handle: RePEc:spr:empeco:v:16:y:1991:i:3:p:313-23
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    Cited by:

    1. Nicolas Debarsy & Jean-Yves Gnabo & Malik Kerkour, 2016. "Sovereign Wealth Funds’ cross-border investments: assessing the role of country-level drivers and spatial competition," Working Papers hal-01251243, HAL.
    2. Debarsy, Nicolas & Gnabo, Jean-Yves & Kerkour, Malik, 2017. "Sovereign wealth funds’ cross-border investments: Assessing the role of country-level drivers and spatial competition," Journal of International Money and Finance, Elsevier, vol. 76(C), pages 68-87.
    3. Kuuluvainen, Jari & Karppinen, Heimo & Hänninen, Harri & Uusivuori, Jussi, 2014. "Effects of gender and length of land tenure on timber supply in Finland," Journal of Forest Economics, Elsevier, vol. 20(4), pages 363-379.
    4. Steven Yen, 1995. "Alternative transformations in a class of limited dependent variable models: alcohol consumption by US women," Applied Economics Letters, Taylor & Francis Journals, vol. 2(8), pages 258-262.
    5. Tosin Lambe & Emma Frew & Natalie J. Ives & Rebecca L. Woolley & Carole Cummins & Elizabeth A. Brettell & Emma N. Barsoum & Nicholas J. A. Webb, 2018. "Mapping the Paediatric Quality of Life Inventory (PedsQL™) Generic Core Scales onto the Child Health Utility Index–9 Dimension (CHU-9D) Score for Economic Evaluation in Children," PharmacoEconomics, Springer, vol. 36(4), pages 451-465, April.
    6. Pan, Suwen & Jensen, Helen H., 2002. "Eating Out: An Important Source Of Food For The Poor And The Food Insecure," 2002 Annual meeting, July 28-31, Long Beach, CA 19805, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Carol Newman & Maeve Henchion & Alan Matthews, 2003. "A double-hurdle model of Irish household expenditure on prepared meals," Applied Economics, Taylor & Francis Journals, vol. 35(9), pages 1053-1061.
    8. Kim, Youngjune & Chen, Bowen & Featherstone, Allen M. & Pendell, Dustin L., 2017. "Are Efficient Farms and Inefficient Farms Heterogeneous?," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252830, Southern Agricultural Economics Association.
    9. Gao, Xiaoming & Wailes, Eric J. & Cramer, Gail L., 1995. "Double-Hurdle Model With Bivariate Normal Errors: An Application To U.S. Rice Demand," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(2), pages 1-14, December.
    10. James Carroll & Siobhan McCarthy & Carol Newman, 2005. "An Econometric Analysis of Charitable Donations in the Republic of Ireland," The Economic and Social Review, Economic and Social Studies, vol. 36(3), pages 229-249.
    11. Charuta M. Parkhi & Lenis Saweda O. Liverpool‐Tasie & Thomas Reardon, 2023. "Do smaller chicken farms use more antibiotics? Evidence of antibiotic diffusion from Nigeria," Agribusiness, John Wiley & Sons, Ltd., vol. 39(1), pages 242-262, January.
    12. Liu, Hongbo & Parton, Kevin A. & Zhou, Zhangyue & Cox, Rod, 2011. "Away-from-Home Meat Consumption in China," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 8(2), pages 1-15, December.

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