NotesFAQContact Us
Collection
Advanced
Search Tips
Back to results
Peer reviewed Peer reviewed
Direct linkDirect link
ERIC Number: EJ1448357
Record Type: Journal
Publication Date: 2024
Pages: 18
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1070-5511
EISSN: EISSN-1532-8007
Available Date: N/A
Optimal Instrument Selection Using Bayesian Model Averaging for Model Implied Instrumental Variable Two Stage Least Squares Estimators
Teague R. Henry; Zachary F. Fisher; Kenneth A. Bollen
Structural Equation Modeling: A Multidisciplinary Journal, v31 n6 p965-982 2024
Model-Implied Instrumental Variable Two-Stage Least Squares (MIIV-2SLS) is a limited information, equation-by-equation, noniterative estimator for latent variable models. Associated with this estimator are equation-specific tests of model misspecification. One issue with equation-specific tests is that they lack specificity, in that they indicate that some instruments are problematic without revealing which specific ones. Instruments that are poor predictors of their target variables ("weak instruments") is a second potential problem. We propose a novel extension to detect instrument-specific tests of misspecification and weak instruments. We term this the Model-Implied Instrumental Variable Two-Stage Bayesian Model Averaging (MIIV-2SBMA) estimator. We evaluate the performance of MIIV-2SBMA against MIIV-2SLS in a simulation study and show that it has comparable performance in terms of parameter estimation. Additionally, our instrument-specific overidentification tests developed within the MIIV-2SBMA framework show increased power to detect specific problematic and weak instruments. Finally, we demonstrate MIIV-2SBMA using an empirical example.
Routledge. Available from: Taylor & Francis, Ltd. 530 Walnut Street Suite 850, Philadelphia, PA 19106. Tel: 800-354-1420; Tel: 215-625-8900; Fax: 215-207-0050; Web site: http://www.tandf.co.uk/journals
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: National Institute of Mental Health (NIMH) (DHHS/NIH)
Authoring Institution: N/A
Grant or Contract Numbers: 1R21MH11957201
Author Affiliations: N/A