Before revision:  To circumvent this problem, we propose a novel 1-step adjustment of the estimator , which admits a feasible bias correction. We suggest using bias-corrected exact estimators, when possible, to achieve the smallest bias. Otherwise, applying 1-step corrections may improve the higher-order bias and MSE of any consistent estimator .
After revision:  To circumvent this problem, we propose a novel 1-step adjustment of the estimator , which admits a feasible implementation. Our simulations confirm the empirical importance of bias correction .