Econometric methods for fractional response variables with an application to 401(k) plan participation rates
提出了处理分数因变量的回归模型和拟似然估计方法，避免了传统对数比值法的缺陷，并嵌套Logit或Probit函数进行稳健性检验，最后应用于401(k)养老金计划的员工参与率数据。
We develop attractive functional forms and simple quasi-likelihood estimation methods for regression models with a fractional dependent variable. Compared with log-odds type procedures, there is no difficulty in recovering the regression function for the fractional variable, and there is no need to use ad hoc transformations to handle data at the extreme values of zero and one. We also offer some new, robust specification tests by nesting the logit or probit function in a more general functional form. We apply these methods to a data set of employee participation rates in 401(k) pension plans.