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A Box–Cox Double‐hurdle Model

A Box–Cox Double‐hurdle Model The double‐hurdle model with dependence is extended by incorporating the Box–Cox transformation. The model nests a range of popular limited dependent variable models, including the Gaussian double‐hurdle, the generalized Tobit, and two‐part models. Estimates of US beef consumption suggest that the Box–Cox specification outperforms all other restrictive models. Price elasticities are small and similar to findings in the literature. Household age composition and demographic variables also play significant roles in determining beef consumption. Income and cross‐price elasticities are insignificant. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Manchester School Wiley

A Box–Cox Double‐hurdle Model

The Manchester School , Volume 68 (2) – Jan 1, 2000

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Publisher
Wiley
Copyright
Copyright © 2000 Wiley Subscription Services
ISSN
1463-6786
eISSN
1467-9957
DOI
10.1111/1467-9957.00190
Publisher site
See Article on Publisher Site

Abstract

The double‐hurdle model with dependence is extended by incorporating the Box–Cox transformation. The model nests a range of popular limited dependent variable models, including the Gaussian double‐hurdle, the generalized Tobit, and two‐part models. Estimates of US beef consumption suggest that the Box–Cox specification outperforms all other restrictive models. Price elasticities are small and similar to findings in the literature. Household age composition and demographic variables also play significant roles in determining beef consumption. Income and cross‐price elasticities are insignificant.

Journal

The Manchester SchoolWiley

Published: Jan 1, 2000

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