Data/hora: 08/06/2024 10:23:37

Provedor de dados: | 31
País: | United States
Título: | BAYES' ESTIMATES OF THE DOUBLE HURDLE MODEL IN THE PRESENCE OF FIXED COSTS
Autores: | Holloway,   Garth J.; Barrett,   Christopher B.; Ehui,   Simeon K.
Data: | 2003-08-04
Ano: | 2002
Palavras-chave: | Market participation; Fixed costs; Double-hurdle model; Censored regression.; Financial Economics; O1; O11; C34; O13; Q16; D1.
Resumo: | We present a model of market adoption (participation) where the presence of non-negligible fixed costs leads to non-zero censoring of the traditional double-hurdle regression.  Fixed costs arise due to household resources that must be devoted a priori to the decision to participate in the market.  These costs-usually a cost of time-motivate two-step decision-making and focus attentions on the minimum-efficient scale of operations (the minimum amount of milk sales) at which market entry becomes viable.  This focus, in turn, motivates a non-zero-censored Tobit regression estimated through routine application of Markov chain Monte Carlo Methods.
Tipo: | Working or Discussion Paper
Idioma: | Inglês

Identificador:

11085

http://purl.umn.edu/14741

Editor: | AgEcon Search

Relação:

Cornell University&gt;Department of Applied Economics and Management&gt;Working Papers

Working Paper 2002-42

Formato:

26

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