st: instrumental variable technique to address large measurement error?

[xueliansharon <xuelianstata@gmail.com>]

Dear all,

I got quite low Cronbach's alpha coefficients for the five personality
traits in my sample (extraversion, 0.54; agreeableness, 0.55;
conscientiousness, 0.60; emotional stability, 0.62; intellect, 0.55.), and
all these five personality traits are included in the model as the RHS
independent variables. 

I know that such low alpha coefficients indicate large measurement errors,
and I intend to use instrumental variable techniques to address for
measurement error problem, i.e. I will employ 5 instruments for the five
personality traits, and try to see what the effects of five personality
traits are on the LHS dependent variable. 

I just wonder whether such IV technique is enough to correct for measurement
errors.

Thanks for all your responses in advance.

Regards,
Sharon

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