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Economic Motivations for Limited Dependent and Qualitative Variable Models

Author

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  • Fry, T. R. L.
  • Brooks, R. D.
  • Comley, B. R.
  • Zhang, J.

Abstract

The greater availability of survey data, a succession of papers dealing with the statistical issues arising from the analysis of such data and the appearance of software packages, such as LIMDEP (Greene (1991)), have led to a remarkable increase in the application of limited dependent and qualitative variable models in economics. Economic analysis of the behaviour of individual decision makers often leads to models which are of a limited dependent or qualitative variable nature. This paper attempts to show how the use of limited dependent and qualitative variable models naturally arises from the more general framework of modifications to traditional economic optimisation problems.

Suggested Citation

  • Fry, T. R. L. & Brooks, R. D. & Comley, B. R. & Zhang, J., "undated". "Economic Motivations for Limited Dependent and Qualitative Variable Models," Department of Econometrics and Business Statistics Working Papers 267391, Monash University, Department of Econometrics and Business Statistics.
    • Handle: RePEc:ags:monebs:267391
    DOI: 10.22004/ag.econ.267391
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    1. is not listed on IDEAS
    2. Fry, Tim R. L. & Harris, Mark N., 1996. "A Monte Carlo study of tests for the independence of irrelevant alternatives property," Transportation Research Part B: Methodological, Elsevier, vol. 30(1), pages 19-30, February.
    3. Ioannou, Stefanos & Wójcik, Dariusz & Pažitka, Vladimír, 2021. "Financial centre bias in sub-sovereign credit ratings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    4. Tim R. L. Fry & Mark N. Harris, 1998. "Testing for Independence of Irrelevant Alternatives," Sociological Methods & Research, , vol. 26(3), pages 401-423, February.
    5. Bissoondoyal-Bheenick, Emawtee & Brooks, Robert & Yip, Angela Y.N., 2006. "Determinants of sovereign ratings: A comparison of case-based reasoning and ordered probit approaches," Global Finance Journal, Elsevier, vol. 17(1), pages 136-154, September.
    6. Sarah Brown & Lisa Farrell & Mark N. Harris & John G. Sessions, 2006. "Risk preference and employment contract type," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 169(4), pages 849-863, October.
    7. Paetz, Friederike & Steiner, Winfried J., 2018. "Utility independence versus IIA property in independent probit models," Journal of choice modelling, Elsevier, vol. 26(C), pages 41-47.

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