In socio-economics sciences, researchers need to model behaviour of ordinal variables in simultaneous equation system involving multiple endogenous ordinal variables. In existing literature the tedious solution of such likelihood function is misunderstood by applied researchers see O’Brien and Homer (Qual Quant 21(4):349–360, 1987). This paper is an attempt to convert ordinal variables into continuous format for the common use in standard simultaneous regression models. The proposed method involves generating random numbers from continuous probability distributions (say, uniform and/or truncated normal distributions) within a given discrete probability distribution. The new method can be used in ordered-logit and probit models by avoiding existing restrictive assumptions. However, the proposed method can be used under certain restrictions.
Quality & Quantity – Springer Journals
Published: Aug 14, 2015
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