hi,
I am trying to estimate a biavariate tobit model - the 1st dependent variable: farm income and the 2nd dependent variable: labor income.
It is recorded zero when an observation or individual does not participate in farming or labor and it is why I am trying to use bivariate tobit model.
However, the thing is that it is possible that an individual has some negative farm income after he/she participates in farming. And I actually have some observations with negative farm income.
In this situation, how can I estimate a tobit model?
I am trying to estimate a biavariate tobit model - the 1st dependent variable: farm income and the 2nd dependent variable: labor income.
It is recorded zero when an observation or individual does not participate in farming or labor and it is why I am trying to use bivariate tobit model.
However, the thing is that it is possible that an individual has some negative farm income after he/she participates in farming. And I actually have some observations with negative farm income.
In this situation, how can I estimate a tobit model?
