Tobit at Fifty: A Brief History of Tobin's Remarkable Estimator, of Related Empirical Methods, and of Limited Dependent Variable Econometrics in Health Economics
---- Acknowledgements ----
Thanks are owed to Art Goldberger for sharing his insights about the evolution of Tobit and Orbit, and to Don Hester for sharing his recollections about computational issues in the production of Tobin's paper. The first author's work was supported in part by a Merck Quantitative Sciences Fellowship in Health Economics. Some of the second author's research was conducted when he was a visiting scholar at the Geary Institute at UCD. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.