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If levels of wellbeing are left hand side variables, professor Paul Dolan explains, then something like sustainability is a right hand side variable: "These can determine and explain your wellbeing.
To simplify the notation, the endogenous left-hand side variables of the Eqs.
Residuals are then included in every budget share equation as additional right hand side variables.
All the right-hand side variables are expressed with one lag.
In the short notation X j represents all right hand side variables of the model including the intercept.
In the most parsimonious specification the only right-hand side variables included are the treatment and the fixed effects.
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Here the left hand side variable consists of direct measures of the conditional quantiles.
The analysis is carried out by running conventional production function regressions, where the share of immigrants is treated as an additional right hand side variable.
In contrast to Vernon whose left hand side variable was the corporate profit margin, we directly measure the effect on R&D spending.
Therefore, the estimating framework reduces to a standard production function, with the proportion of immigrants as an additional right hand side variable.
Since the left-hand side variable is a dummy variable we would like to estimate a probit model and since we use panel data we could choose between a fixed and a random effect model.
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