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investment as a proxy, following OP. The OP methodology has limitations as far as Indonesian data are concerned, however.. Indonesian data include a large number of plants
But why would an agent expend resources (mental effort, etc.) to form a subjective proba- bility distribution that he knows to have no connection with any actual state
Running the same specification as in Column 2 of Table 3, but replacing the Standardized Index of Bad Health with other outcome variables as dependent variables, gives that
Columns 1 and 2 report the coefficient for parental English when the child education equation is estimated using the full sample of children using OLS and 2SLS (with the
10 We estimate both static stock models (that include lags of the unemployment rate as regressors) and dynamic stock models (that also include a lagged dependent variable as
In the fi rst speci fi cation, the wage equation only includes measures of family back- ground (parental education), high school quality (proportion of students with friends
Given the two types of interventions the instruments represent—one (sex com- position) is a planned increase in family size based on parental preferences for variety in the
Both the basic and self- revelation models control for race, sex, predicted parental income, student’s SAT score, a dummy indicating if student SAT score was missing, student’s
