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Extensions of the Ordered Response Model Applied to Consumer Valuation of New Products

Listed author(s):
  • Das, J.W.M.

    (Tilburg University, Center For Economic Research)

In an ordered response model the observed variable is based upon classifying an unobserved variable into one out of a finite number of intervals forming a dissection of the real line (cf. Amemiya, 1981). This model considers the boundaries of the intervals as (unknown) deterministic parameters, the same for every individual. Terza (1985) extended this through the relaxation of the assumed constancy of the boundaries: he allowed the boundaries to be a linear function of observed explanatory variables. We extend the deterministic model by allowing for random boundaries that vary across individuals. A case study on consumer valuation of new products indicates that random boundaries significantly improve the standard ordered response model.

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File URL: https://pure.uvt.nl/portal/files/520725/15.pdf
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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 1995-15.

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Date of creation: 1995
Handle: RePEc:tiu:tiucen:906b1b30-1dcc-47bc-890b-c53af17b3987
Contact details of provider: Web page: http://center.uvt.nl

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  1. Vuong, Quang H, 1989. "Likelihood Ratio Tests for Model Selection and Non-nested Hypotheses," Econometrica, Econometric Society, vol. 57(2), pages 307-333, March.
  2. Lee, Myoung-jae, 1992. "Median regression for ordered discrete response," Journal of Econometrics, Elsevier, vol. 51(1-2), pages 59-77.
  3. Amemiya, Takeshi, 1981. "Qualitative Response Models: A Survey," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1483-1536, December.
  4. Clark, Andrew E., 1997. "Job satisfaction and gender: Why are women so happy at work?," Labour Economics, Elsevier, vol. 4(4), pages 341-372, December.
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