The range of my dependent variable Y is [0,inf). Since it is left censored to zero, the tobit model should be used. However the value of Y is huge, I have to remove the scale using normalization, which is Y_new=(Y-Y_min)/(Y_max-Y_min). After the transformation, the range of Y_new is [0,1]. The dataset is panel.
Under this circumstance, which model should be used for regression, fractional model or tobit model?
Note:fracreg -- Fractional response regression
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