Fixed transaction costs and modelling limited dependent variables
AbstractAs an alternative to the Tobit model, for vectors of limited dependent variables, I suggest a model, which follows from explicitly using fixed costs, if appropriate of course, in the utility function of the decision-maker.
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Bibliographic InfoPaper provided by Tilburg University, Faculty of Economics and Business Administration in its series Research Memorandum with number 677.
Date of creation: 1994
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Web page: http://www.tilburguniversity.edu/nl/over-tilburg-university/schools/economics-and-management/
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- James Tobin, 1956. "Estimation of Relationships for Limited Dependent Variables," Cowles Foundation Discussion Papers 3R, Cowles Foundation for Research in Economics, Yale University.
- Hempenius, A.L., 1992. "Explaining changes in external funds (Part one: Theory)," Research Memorandum 574, Tilburg University, Faculty of Economics and Business Administration.
- Mayshar, Joram, 1979. "Transaction Costs in a Model of Capital Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 673-700, August.
- Amemiya, Takeshi, 1984. "Tobit models: A survey," Journal of Econometrics, Elsevier, vol. 24(1-2), pages 3-61.
- Uhler, R S & Cragg, John G, 1971. "The Structure of the Asset Portfolios of Households," Review of Economic Studies, Wiley Blackwell, vol. 38(115), pages 341-57, July.
- Goldsmith, David, 1976. "Transactions Costs and the Theory of Portfolio Selection," Journal of Finance, American Finance Association, vol. 31(4), pages 1127-39, September.
- Javier Escobal D’Angelo, 2001. "Costos de transacción en la agricultura peruana: una primera aproximación a su medición e impacto," Documentos de InvestigaciÃ³n dt30, Grupo de Análisis para el Desarrollo (GRADE).
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