Multivariate Regression and Simultaneous Equation Models when the Dependent Variables Are Truncated Normal

Amemiya, Takeshi

doi:10.2307/1914214

Cited by 391 publications

(207 citation statements)

References 6 publications

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“…However, the addition of normally distributed error terms to the share equations in no way restricts the shares to be positive and less than 1. The contribution of Wales and Woodland was to devise a stochastic formulation, based on the earlier work of Tobin (1958) and Amemiya (1974), that (a) respects the unit simplex range constraint for the shares, (b) accommodates the restriction that the shares sum to one, and (c) allows corner solutions in which one or more alternatives are not consumed. They achieve this by assuming that the observed shares for the (K-1) of the K alternatives follow a truncated multivariate normal distribution (note that since the shares across alternatives have to sum to from the "horizontal" variety seeking model considered in this paper, where the choice is considered to be among inherently imperfect substitutes at the choice occasion (see Kim et al, 2002 andBhat, 2005).…”

Section: Introductionmentioning

confidence: 99%

A multiple discrete–continuous extreme value model: formulation and application to discretionary time-use decisions

Bhat

2005

Transportation Research Part B: Methodological

407

337

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Many consumer choice situations are characterized by the simultaneous demand for multiple alternatives that are imperfect substitutes for one another. A simple and parsimonious Multiple Discrete-Continuous Extreme Value (MDCEV) econometric approach to handle such multiple discreteness was formulated by Bhat (2005) within the broader Kuhn-Tucker (KT) multiple discrete-continuous economic consumer demand model of Wales and Woodland (1983). This paper examines several issues associated with the MDCEV model and other extant KT multiple discrete-continuous models. Specifically, the paper proposes a new utility function form that enables clarity in the role of each parameter in the utility specification, presents identification considerations associated with both the utility functional form as well as the stochastic nature of the utility specification, extends the MDCEV model to the case of price variation across goods and to general error covariance structures, discusses the relationship between earlier KT-based multiple discrete-continuous models, and illustrates the many technical nuances and identification considerations of the multiple discrete-continuous model structure through empirical examples. The paper also highlights the technical problems associated with the stochastic specification used in the KT-based multiple discrete-continuous models formulated in recent Environmental Economics papers.

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Section: Introductionmentioning

confidence: 99%

A multiple discrete–continuous extreme value model: formulation and application to discretionary time-use decisions

Bhat

2005

Transportation Research Part B: Methodological

407

337

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“…Using the results of Amemiya (1974Amemiya ( , p. 1002 and Tallis (1961, p.225) the conditional exception of the final firms size conditional on survival can be written as…”

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confidence: 99%

Job creation and the intra-distribution dynamics of the firm size distribution

Huber¹,

Oberhofer²,

Pfaffermayr³

2013

Industrial and Corporate Change

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractBased on a structural model for initial firm size, survival and firm growth we estimate firm-specific transition probabilities between size classes of the firm size distribution. This allows an assessment of the impact of different (counterfactual) economic policy measures on intra-distribution dynamics of the firm size distribution. We find that policies increasing the life span of firms reduce the exit hazard of young firms, but also reduce the probability to be a Gazelle. An increase in the industry-wide entry rate increases the exit hazards of incumbent firms and has no strong impact on the likelihood of firms to become Gazelles. Increasing market growth, by contrast, decreases the exit hazards for incumbent firms and slightly increases the likelihood of firms to be Gazelles. Finally, an increase in the birth size of firms increases the probability of young firms to be Gazelles with strongest effects for the smallest firms.

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“…Uno de los primeros en analizar los modelos de sistema de ecuaciones con censura en la variable dependiente es Amemiya (1974) y lo hace aplicando los fundamentos desarrollados por Tobin (1958) para un modelo de una ecuación con censura. Entre los trabajos que aplican este enfoque para analizar la demanda residencial en alimentos están Dong et al (2004) y Yen et al (2004).…”

Section: La Censura En Los Sistemas De Demandaunclassified

Análisis de la demanda residencial de los servicios básicos en España usando un modelo QUAIDS censurado

Gálvez

Mariel

Hoyos

2016

Estudios de Economía

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Resumen El presente artículo analiza la demanda residencial española en los bienes Abstract This paper analyses the Spanish residential demand of a bundle of goods conforming the basic services of the households (i.e. electricity, natural gas and drinking water) in 2012. The analysis is made using a QUAIDS model modified in order to consider the censoring in the consumption of natural gas following the approach of Tauchmann (2010), one of the latest advances in this field. The * Los autores agradecen el apoyo financiero tanto del Gobierno Vasco como de la UPV/ EHU mediante los proyectos IT-642-13, UFI11/03, US12/09 y US15/11. Además, los autores agradecen al editor y a los revisores anónimos sus comentarios acerca del trabajo. Sus sugerencias nos han permitido mejorar sustancialmente la calidad del mismo.

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Multivariate Regression and Simultaneous Equation Models when the Dependent Variables Are Truncated Normal

Cited by 391 publications

References 6 publications

A multiple discrete–continuous extreme value model: formulation and application to discretionary time-use decisions

A multiple discrete–continuous extreme value model: formulation and application to discretionary time-use decisions

Job creation and the intra-distribution dynamics of the firm size distribution

Análisis de la demanda residencial de los servicios básicos en España usando un modelo QUAIDS censurado

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