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Re: st: Treatreg output interpretation
R2 of 0.36 would be great for most people in labor econometrics where
Heckman and treatment regressions come from. Of course it is not so
great for social scientists who would only trust indicators that have
an R2 of 0.70. It's just an observation, I cannot suggest anything
constructive here :)).
I would have more trust in the full likelihood procedure rather than
the two-step one. And, fortunately, the full information likelihood
does not provide an R2 that everybody would stare at either in
amazament or in horror :)).
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