Quasi Maximum Likelihood Estimation of Multivariate Probit Models: Farm Couples' Labor Participation
1994
Kimhi, Ayal
Joint estimation of farmers' farm and off‐farm work participation requires a multivariate probit model, in which the number of equations is twice the number of household members. Where there are more than two such equations, I suggest a quasi maximum likelihood method which requires only two levels of numerical integration. The method maximizes the use of sample information given this numerical feasibility condition. It is used for estimating a joint participation model of farm couples' farm and off‐farm work. The model yields conclusions about comparative advantages of men and women in farm, off‐farm, and housework, which cannot be obtained with a more limited setup.
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