Fixed transaction costs and modelling limited dependent variables

A.L. Hempenius

Research output: Book/ReportReportProfessional

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Abstract

As 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.
Original languageEnglish
PublisherUnknown Publisher
VolumeFEW 677
Publication statusPublished - 1994

Publication series

NameResearch memorandum / Tilburg University, Department of Economics
VolumeFEW 677

Keywords

  • Economic Models
  • Transaction Costs
  • costs and cost price

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