Abstract
where l[A] = 1 if the event A holds and 0 otherwise, xit is a k X 1 regressor vector, ai is a unit-specific error term possibly related with xi (xi1, x2)', and uit is an error term varying across i and t. Manski (1987) proposed a semiparametric maximum score for ,B that is likely to be N1/3-consistent. Charlier et al. (1995) and Kyriazidou (1997) smooth the panel maximum score estimator adopting Horowitz' (1992) idea; the resulting estimator can converge at a rate close to but yet slower than VN. In this paper, we propose a VN-consistent semiparametric estimator for (1.1). In Section 2, the estimator is introduced and its consistency is proven. In Section 3, the asymptotic distribution is derived. In Section 4, conclusions are drawn.
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