Rank estimation of a location parameter in the binary choice model
نویسنده
چکیده
This paper proposes a rank-based estimator for a location parameter in the binary choice model under a monotonic index and symmetry condition, given an initial Jnconsistent estimator for the slope parameter. The estimator converges at the usual parametric rate. Compared with existing estimators, no nonparametric smoothing is needed here. A small Monte Carlo study illustrates the usefulness of the estimator. We also point out that the location and slope parameters can be jointly estimated. ( 2000 Elsevier Science S.A. All rights reserved. JEL classixcation: C21; C25
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