Table 1.

Estimation Time Comparisons (in Seconds)

Parameters				Computation Time		Relative Difference (Ratio)
N	M	K	D	mvprobit	bvpmvp(…)
2,000	4	5	10	29	1	29
			20	53		53
		9	10	28	1	28
			20	54		54
	8	5	10	1,219	5	244
			20	2,041		408
		9	10	1,036	8	130
			20	2,044		256
10,000	4	5	10	142	2	71
			20	263		132
		9	10	137	3	46
			20	258		86
	8	5	10	4,628	14	331
			20	10,469		748
		9	10	4,669	19	246
			20	9,833		518
50,000	4	5	10	986	12	82
			20	1,937		161
		9	10	995	18	55
			20	1,970		109
	8	5	10	35,833	65	551
			20	72,406		1114
		9	10	36,647	86	426
			20	73,204		851

Legend

N: Number of sample observations

M: Number of outcomes

K: Number of covariates (including constant term)

D: Number of draws for mvprobit

Note: Stata’s matsize parameter is set at 600 for all specifications.