Tobin's Tobit data — tobin • survival

Economists fit a parametric censored data model called the ‘tobit’. These data are from Tobin's original paper.

Usage

tobin

Format

A data frame with 20 observations on the following 3 variables.

durable: Durable goods purchase
age: Age in years
quant: Liquidity ratio (x 1000)

Note

The usage above assumes that the survival package is attached via library(survival) or via another package that depends on survival, e.g., mstate. If not, then either survival::tobin can be used or data(tobin, package="survival").

Source

J Tobin (1958), Estimation of relationships for limited dependent variables. Econometrica 26, 24–36.

Examples

tfit <- survreg(Surv(durable, durable>0, type='left') ~age + quant,
                data=tobin, dist='gaussian')

predict(tfit,type="response")
#>  [1] -3.04968679 -4.31254182 -0.54163315 -0.25607164 -1.85017727 -2.40987803
#>  [7] -3.50629220 -0.74041486 -4.05145594 -3.55880518 -0.32223237 -3.68044619
#> [13] -3.65997456 -2.63254564  0.22382063  0.02177674 -0.09571284 -3.17696755
#> [19] -0.61521215 -3.13913903