Construct · 1 fields · 1 citations

instrument: a standalone construct

One name. One construct. A landmark on the map.

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instrument1 CONSTRUCTInstrumental var.IMBENS · CAUSAL LEVER

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Econometrics

a variable that shifts an endogenous regressor but affects the outcome only through it, identifying a causal effect.

A variable brought in to identify a causal effect when the explanatory variable of interest is endogenous, meaning it is correlated with the error term so that ordinary regression is biased. A valid instrument moves the endogenous regressor but affects the outcome only through it, and not by any other path, so the part of the variation it isolates can be treated as if it were assigned at random. Imbens and Angrist's 1994 Identification and estimation of local average treatment effects showed what such an instrument actually recovers when effects differ across units: the average effect for those whose behaviour the instrument shifts. The referent is an identification device inside a statistical model, chosen for where it does and does not correlate. It is not a questionnaire that scores a trait, a legal document, a tradable contract, or an object that makes sound.[1]

Unit
A variable used to identify a causal effect, valued for its correlations, not for what it measures
Recovery means
Not applicable
Measured by
Assessed by relevance, the strength of its correlation with the regressor, and by the exclusion assumption of no direct path to the outcome

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Nearby constructs

validity6 fields · 10 citationsjingle · one name, six constructsscale3 fields · 3 citationsjingle · one word, three constructscausation6 fields · 15 citationsjingle · one name, six constructs

References

  1. Imbens, G. W., & Angrist, J. D. (1994). Identification and estimation of local average treatment effects. Econometrica, 62(2), 467–475. https://doi.org/10.2307/2951620

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