Generalized Tobit

A generalized Tobit is a generalization of the econometric Tobit model after James Tobin. It is also called Heckit after James Heckman. Another name is "type 2 Tobit model".^[1]

Tobit models assume that a variable is truncated.

Notes

References

• Amemiya, Takeshi (1985) Advanced Econometrics. Harvard University Press. ISBN 0674005600
• Tobin, James (1958) "Estimation of relationships for limited dependent variables", Econonetrica, 26, 24–36
• Heckman, James. (1979). "Sample Selection Bias as a Specification Error." Econometrica, 47,153–161.