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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Tilburg University, Faculty of Economics and Business Administration in its series Research Memorandum with number 677.
Date of creation: 1994
Date of revision:
Contact details of provider:
Web page: http://www.tilburguniversity.edu/nl/over-tilburg-university/schools/economics-and-management/
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.:
- Hempenius, A.L., 1992. "Explaining changes in external funds (Part one: Theory)," Research Memorandum 574, Tilburg University, Faculty of Economics and Business Administration.
- James Tobin, 1956. "Estimation of Relationships for Limited Dependent Variables," Cowles Foundation Discussion Papers 3R, Cowles Foundation for Research in Economics, Yale University.
- Goldsmith, David, 1976. "Transactions Costs and the Theory of Portfolio Selection," Journal of Finance, American Finance Association, vol. 31(4), pages 1127-39, September.
- 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.
- 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.
- 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).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Richard Broekman).
If references are entirely missing, you can add them using this form.