Hello all.
I have seen posts regarding bivariate probits but have been able to find
an answer to my question.
Here goes:
I want to run biprobit with partial obs. (the standard poirer model).
I have set up my data and equations to have at least one variable in
equation 1 that is not in equation 2 and one in equation 2 not in equation
1. I run the model and I get results. However, the estimate of rho is
1. I understand that if rho=0 the equations are independent but what is
the interpretation of rho=1? Has anyone encountered this problem?
thanks in advance
Rich
-------------------
Richard Prisinzano
Graduate Student
Department of Economics
University of Texas
[email protected]
http://www.eco.utexas.edu/graduate/Prisinzano/
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