Ordered logit analysis for selectively sampled data
AbstractWhen customers are classified into ordered categories, which are defined from the outset, it may happen that the majority belongs to a single category. If a market researcher is interested in the correlation between the classification and individual characteristics, the natural question is whether one needs to collect data for all customers in that particular category. We address this question for the ordered logit model. We show that there is no need to consider all those customers. All that is required is a simple modification of the log-likelihood, which is based on Bayes' rule. We illustrate our proposed method on simulated data and on data concerning risk profiles of customers of an investment bank.
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Bibliographic InfoArticle provided by Elsevier in its journal Computational Statistics & Data Analysis.
Volume (Year): 40 (2002)
Issue (Month): 3 (September)
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Web page: http://www.elsevier.com/locate/csda
Other versions of this item:
- Fok, D. & Franses, Ph.H.B.F. & Cramer, J.S., 1999. "Ordered logit analysis for selectively sampled data," Econometric Institute Research Papers EI 9933/A, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Franses, Ph.H.B.F. & Slagter, E. & Cramer, J.S., 1999. "Censored regression analysis in large samples with many zero observations," Econometric Institute Research Papers EI 9939-A, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
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- Fidrmuc, J.P. & Roosenboom, P.G.J. & van Dijk, D.J.C., 2007. "When Do Managers Seek Private Equity Backing in Public-to-Private Transactions?," ERIM Report Series Research in Management ERS-2007-028-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
- Jacek Kotlowski, 2005. "Reaction functions of the Polish central bankers. A logit approach," Working Papers 18, Department of Applied Econometrics, Warsaw School of Economics.
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