S4E03 Two-Stage Least Squares Strikes Back
Quantitude
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Maximum Probability Is a Limited Information Method of Estimation
Two stage least squares has a spinning hook kick and never ever forget that. Maximum likelihood is like flexing down on Venice Beach about all the things it can do, but only under regularity conditions. You are much more likely to find a significant effect for your biased regression coefficient than I am for my unbiased regression coefficient. The ground is littered with shiny objects to go pick up and look at what do you do with missing did? How do you extend this longitudinally? How would you extend this across multiple groups?
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