Wednesday, October 7, 2020

Heckman correction

 

https://en.wikipedia.org/wiki/Heckman_correction

"Conceptually, this is achieved by explicitly modelling the individual sampling probability of each observation (the so-called selection equation) together with the conditional expectation of the dependent variable (the so-called outcome equation)" 

The Heckman used Mills ratio to model right-censored data as 'selection bias'. 

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