Estimating Input Cost Shares for Agriculture Using a Multinomial Logit Framework Report as inadecuate




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Many econometric analyses include dependent variables constrained to the interval between zero and 1 Under such conditions, simple regression procedures break down Several alternative stochastic models which avoid this problem can be defined depending on the assumed error structure Two alternative forms of the logit model are treated here The multivariate logit approach assumes that the share specification is an accurate representation of the underlying input demand structure The multinomial logit approach treats the dependent variable as a probability with a multinomial density

Keywords: Econometrics ; limited dependent variable ; multinomial logit ; maximum likelihood

Subject(s): Production Economics

Research Methods/ Statistical Methods

Issue Date: 1982-10

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/148973 Published in: Agricultural Economics Research, Volume 34, Number 4 Page range: 23-31

Total Pages: 9

Record appears in: United States Department of Agriculture (USDA) > Economic Research Service > Agricultural Economics Research





Author: LeBlanc, Michael

Source: http://ageconsearch.umn.edu/record/148973?ln=en



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