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Financial Well-Being in an Urban Setting: An Application of Multiple Imputation

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  • David A. Penn

Abstract

Many studies delete incomplete data prior to model estimation, resulting in less efficient and potentially biased parameter estimates. Multiple imputation provides a model-based method of simultaneously estimating missing values for several variables, conditioned on the observed values. The technique is applied to financial well-being data collected by survey from householders in Oklahoma County, Oklahoma. Ordered logistic models are estimated for both complete cases and multiply imputed data. Estimates from the complete case model are somewhat biased and less efficient compared with the multiple imputation model.

Suggested Citation

  • David A. Penn, 2005. "Financial Well-Being in an Urban Setting: An Application of Multiple Imputation," Working Papers 200506, Middle Tennessee State University, Department of Economics and Finance.
    • Handle: RePEc:mts:wpaper:200506
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    File URL: http://capone.mtsu.edu/berc/working/Oxford%20FWB%206_23_05.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Missing Data; Multiple Imputation;

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General

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