| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
BAYES' ESTIMATES OF THE DOUBLE HURDLE MODEL IN THE PRESENCE OF FIXED COSTS
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| Autores: |
Holloway, Garth J.
Barrett, Christopher B.
Ehui, Simeon K.
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| Data: |
2003-08-04
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| Ano: |
2002
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| Palavras-chave: |
Market participation
Fixed costs
Double-hurdle model
Censored regression.
Financial Economics
O1
O11
C34
O13
Q16
D1
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| 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.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
11085
http://purl.umn.edu/14741
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| Editor: |
AgEcon Search
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| Relação: |
Cornell University>Department of Applied Economics and Management>Working Papers
Working Paper 2002-42
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| Formato: |
26
application/pdf
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