Practical Regression: Introduction to Endogeneity: Omitted Variable Bias Harvard Case Solution & Analysis

Practical Regression: Introduction to Endogeneity: Omitted Variable Bias Case Solution

The intention behind the notes would be to supplement the theoretical content of most statistics texts with practical advice based on almost three decades of expertise of the writer, joined with over one hundred years of expertise of co-workers that have offered guidance. As the name "Practical Regression" implies, these notes are a guide to performing regression in practice.This technical note introduces the notion of endogeneity bias with unique coverage of omitted variable bias. Pupils who read this note will comprehend why omitting crucial predictors can bias the coefficients of variables that are included. The note offers practical guidance for model building that balances the desire for parsimony developed in an earlier note with the demand to restrict omitted variable bias and exemplifies omitted variable bias by way of an extended example.

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PUBLICATION DATE: June 06, 2002 PRODUCT #: KEL638-PDF-ENG

 

 

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