An Interpretation in the Tobit Models

Jadwiga Kostrzewska

doi:https://doi.org/10.59139/ps.2011.03-04.7

Jadwiga Kostrzewska Uniwersytet Ekonomiczny w Krakowie Przegląd Statystyczny. Statistical Review, vol. 58, 2011, 3-4, pages: 256-280 Published online: 31 December 2011 DOI https://doi.org/10.59139/ps.2011.03-04.7

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ABSTRACT

At first the tobit models according to T. Amemiya’s classification ([1]) are presented in the paper. Next, expected values and marginal effects in these models are obtained. In the tobit models marginal effects are not equal to coefficients of the model in general. To get a proper interpretation in the considered models, it is necessary to obtain marginal effects as a partial deviation of the expected values. Moreover, marginal effects are different for binary and continuous variables.

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