This is perhaps why most modern textbooks in econometrics completely ignore the
BWM-estimator. However, by ignoring it, these textbooks also fail to alert potential
users to the pitfalls of this estimator in econometric applications. This lack of
information on the potential drawbacks of the estimator, coupled with the attractive
“robustness” label that is often attached to it and with its ready availability in
popular software packages, helps to understand the recent rise in popularity of the
BWM-estimator among applied econometricians.