So I have been trying to apply a latent segmentation model to my dataset. Consulted with Jennifer Thacher at the University of New Mexico. She's good in implementing this model using Gauss program. And Jennifer has funny, albeit true, quote about econometrics in her website:
"...Three econometricians went out hunting and came across a large deer. The first econometrician fired, but missed, by a meter to the left. The second econometrician fired but also missed, by a meter to the right. The third econometrician didn’t fire, but shouted in triumph, 'We got it! We got it!'...."
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