This paper presents an econometric technique for circumventing the lack of individual choice data in a framework of binary choice model by utilizing aggregate choice data. The probability of observing a certain number of individuals making choice A out of the total number of individuals in a group is presented as a sum of probabilities of disjoint events, in which some individuals are picked to make choice A, and others are not. These probabilities are then used to form a likelihood function. The model, which is estimated using the method of maximum likelihood, performs favorably in an application to real discrete choice data.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number
22230.
Length: Date of creation: 2003 Date of revision: Handle: RePEc:ags:aaea03:22230
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