Abstract
In this chapter, we consider the case where several dependent variables are explained by linear relationships with other variables. Independent analysis of each relationship by ordinary least squares Ordinary Least Squares OLS could result in incorrect statistical inferences either because the estimation is not efficient (a simultaneous consideration of all the explained variables may lead to more efficient estimators for the parameters) or may be biased in cases where the dependent variables influence each other.
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Gatignon, H. (2010). System of Equations. In: Statistical Analysis of Management Data. Springer, New York, NY. https://doi.org/10.1007/978-1-4419-1270-1_6
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DOI: https://doi.org/10.1007/978-1-4419-1270-1_6
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Publisher Name: Springer, New York, NY
Print ISBN: 978-1-4419-1269-5
Online ISBN: 978-1-4419-1270-1
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