The Clark approximation, in which the maximum of two normally distributed random variables is approximated by a third normally distributed random variable, forms the basis of a relatively inexpensive ...

This is a preview. Log in through your library . Abstract I consider an ordered probit model in which some of the observations in one of the categories are missing. The model can be estimated because ...

and is the normal probability function. This is the likelihood function for a binary probit model. This likelihood is strictly positive so that you can take a square root of and use this as your ...