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Specification and estimation of rating scale models - with an application to the determinants of life satisfaction


Studer, Raphael; Winkelmann, Rainer (2011). Specification and estimation of rating scale models - with an application to the determinants of life satisfaction. Working paper series / Department of Economics No. 03, University of Zurich.

Abstract

This article proposes a new class of rating scale models, which merges advantages and overcomes shortcomings of the traditional linear and ordered latent regression models. Both parametric and semi-parametric estimation is considered. The insights of an empirical application to satisfaction data are threefold. First, the methods are easily implementable in standard statistical software. Second, the non-linear model allows for flexible marginal effects, and predicted means respect the boundaries of the dependent variable. Third, average marginal effects are similar to ordinary least squares estimates.

Abstract

This article proposes a new class of rating scale models, which merges advantages and overcomes shortcomings of the traditional linear and ordered latent regression models. Both parametric and semi-parametric estimation is considered. The insights of an empirical application to satisfaction data are threefold. First, the methods are easily implementable in standard statistical software. Second, the non-linear model allows for flexible marginal effects, and predicted means respect the boundaries of the dependent variable. Third, average marginal effects are similar to ordinary least squares estimates.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Department of Economics
Dewey Decimal Classification:330 Economics
JEL Classification:C21, I00
Uncontrolled Keywords:Rating variables, non-linear least squares, quasi-maximum likelihood, semiparametric least squares, subjective well-being
Language:English
Date:January 2011
Deposited On:11 Nov 2011 07:41
Last Modified:07 Dec 2017 09:33
Series Name:Working paper series / Department of Economics
Number of Pages:19
ISSN:1664-7041 (P) 1664-705X (E)
Official URL:http://www.econ.uzh.ch/static/wp/econwp003.pdf
Related URLs:http://www.econ.uzh.ch/static/workingpapers.php

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