Fluid Milk Purchases: A Multivariate Tobit Analysis
作者:
Jorge Cornick,
Thomas L. Cox,
Brian W. Gould,
期刊:
American Journal of Agricultural Economics
(WILEY Available online 1994)
卷期:
Volume 76,
issue 1
页码: 74-82
ISSN:0002-9092
年代: 1994
DOI:10.2307/1243922
出版商: Oxford University Press
数据来源: WILEY
摘要:
AbstractWe formulate an econometric model of fluid milk expenditures, taking into account two important characteristics: expenditures may be censored at zero and may be interdependent across milk type. Censoring of fluid milk expenditures is addressed with a generalized Tobit system estimator. Interdependence of milk expenditures is examined through a likelihood function with no restrictions on elements of the Engel curve error covariance matrix. Expenditure function parameters are estimated using a March 1991 to March 1992 U.S. consumer panel.
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