Hay and Olsen (1984) incorrectly argue that a multi-part model, the two-part model used in Duan et al. (1982,1983), is nested within the sample-selection model. Their proof relies on an unmentioned ...

We investigate the performance of empirical criteria for comparing and selecting quantitative models from among a candidate set. A simulation based on empirically observed parameter values is used to ...

Specification of the lasso tuning parameter will be discussed and demonstrated via cross validation, which is another important modeling concept. This course covers more advanced content than other ...