I am working with NBA contract data and about 20 percent of my free agent sample do not receive contracts. Additionally, the distribution for those who do receive contracts is exponential. For each individual who did not receive a contract, I know what the league-mandated minimum salary would have been. It is a function of Years of Service, and thus I know the assessed contract value of the player is between 0 and the mandated minimum.
I am trying to estimate a regression equation on the full sample, and would like to use a tobit specification as my data is clearly left-censored. The problem is that the censoring bound is a variable that is a function of the Years of Service. Does anyone know of examples of a tobit model with a variable bound? Even better would be code to run such a model in Stata, but I'm not getting my hopes up.