Use a 50 % subsample of the fishing mode choice data of Section 15.2. Suppose we collapse
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Use a subsample of the fishing mode choice data of Section 15.2. Suppose we collapse the model to three alternatives and order the alternatives, with if fishing from a pier or beach, if fishing from a private boat and if fishing from a charter boat.
(a) Estimate an ordered logit model with income as the only regressor.
(b) Provide an interpretation of the estimated coefficient.
(c) Compare the fit of this model with that from a three-choice multinomial model with income as the regressor.
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Related Book For
Microeconometrics Methods And Applications
ISBN: 9780521848053
1st Edition
Authors: A.Colin Cameron, Pravin K. Trivedi
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