In the case that you would have to use heteroscedastic standard errors but instead falsely use...

In the case that you would have to use heteroscedastic standard errors but instead falsely use homoscedastic standard errors. What implications would this have regarding unbiasedness, efficiency...

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Conclusion: Property of unbiasedness remains.

However, Variance of OLSE ( b= (X'X)^-1X'Y) computed in case of heteroscedastic variance V(y)= will be greater than the variance of OLSE computed in case of homoscedastic variance. If we use homoscedastic variance to obtain estimates of parameter instead od heteroscedastic variance.

milcah answered 1 hour ago

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