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The classical approach for specifying statistical models with binary dependent variables in econometrics using latent variables or threshold models can leave the model misspecified, resulting in biased and inconsistent estimates as well as erroneous inferences. Furthermore, methods for trying to...
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I introduce a novel general equilibrium framework for agricultural trade policy analysis with heterogeneous producers in which agro-ecological characteristics in uence patterns of specialization within the sector and trade costs are product-specific. This induces substantial variation in market...
Persistent link: https://www.econbiz.de/10011068615
Discrete choice models are widely used in studies of recreation demand. They have proven valuable when modeling situations where decision makers face large choice sets and site substitution is important. However, when the choice set faced by the individual becomes very large (on the order of...
Persistent link: https://www.econbiz.de/10005012531
For over the last thirty years the multinomial logit model has been the standard in choice modeling. Development in econometrics and computational algorithms has led to the increasing tendency to opt for more flexible models able to depict more realistically choice behavior. This study compares...
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Replaced with revised version of paper 07/23/09.
Persistent link: https://www.econbiz.de/10005014780
Cluster analysis was used to identify five distinct buyer segments for expendable input purchases for U.S. crop and livestock commercial producers. A multinomial logit model was used to predict segment membership based on demographic, behavioral, and business management factors. Results provide...
Persistent link: https://www.econbiz.de/10005500347
In OLS and 2SLS regression analysis a positive relationship exists between small business and economic growth. A strong inverse relationship also exists between the incidence of poverty and small business and economic growth. Thus, the empirical result establishes the linkage between small...
Persistent link: https://www.econbiz.de/10005500354
In comparing second-best prices and quantities, studies assume that quantities bind with probability one. We present a more general and realistic model of second-best regulation where quantity instruments can bind with probability less than one. This additional flexibility of quantity...
Persistent link: https://www.econbiz.de/10005500355