A class of factor analysis estimation procedures with common asymptotic sampling properties

A general class of estimation procedures for the factor model is considered. The procedures are shown to yield estimates possessing the same asymptotic sampling properties as those from estimation by maximum likelihood or generalized least squares, both of which are special members of the class. General expressions for the derivatives needed for Newton-Raphson determination of the estimates are derived. Numerical examples are given, and the effect of the choice of estimation procedure is discussed.The author wishes to thank Dr. W. N. Venables for his encouragement and helpful suggestions throughout the preparation of this paper, and a reviewer whose comments on an earlier version led to the basic approach used in appendix B to the asymptotic theory.