What variables to include in x. what functional form to use, Ask an Expert

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Q. What variables to include in x? What functional form to use; should x include higher order, interaction terms of variables? CIA will certainly hold if x includes all variables that determine both outcomes and participation, but is this required?

Q. An Economic Decision: A nomadic caveman is caught out in rain. He comes across enough wood to build a shelter or make a fire, but not both. Which does he choose?

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Business Economics, Economics

Category:- Business Economics
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