\hat{\nu}^{j}_{it}=Pr(y^{j}_{it}
\[M^{B} = \left( \begin{array}{ll}
Pr(z-\hat{x}^{j}_{it+1}'\hat{\beta}^{j}_{t+1}-\hat{\rho}^{j}\xi^{j}_{it}>0|y_{ht}0|y_{ht}>z) \\
Pr(z-\hat{x}^{j}_{it+1}'\hat{\beta}^{j}_{t+1}-\hat{\rho}^{j}\xi^{j}_{it}<0 amp="" beta="" hat="" ht="" it="" j="" pr="" rho="" t="" x="" xi="" y_="" z-="" z="">z)
 \end{array} \right).\]

yagunzhe