Sample Selection model (Type II Tobit)
WinBUGS code TobitTypeII.odc
Output: Sample Selection model (Type II Tobit model)
*****Slow convergence to the posterior distribution*****
Generate 104,000 samples and discard first 4,000 samples.
Further, use every 100th sample out of 100,000 samples
(Total # of samples for the statistical inference reduces to 1,000.)
Posterior means, posterior standard deviations and 95% credible intervals (Inference->Samples->stats)
Sample path (history)
Posterior probability densities (Inference->Samples->density)
(Further, right click on the figure->Margins-> Special…->Smooth -> change from 0.2 to 0.1-> apply all)
Sample autocorrelation function (Inference->Samples->auto corr)
Running quantile plot (Inference->Samples->quantiles)
Scatter plots (Inference->Correlations…)