Use a 50 % subsample of the fishing mode choice data of Section 15.2. Suppose we collapse

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Use a 50% subsample of the fishing mode choice data of Section 15.2. Suppose we collapse the model to three alternatives and order the alternatives, with y=0 if fishing from a pier or beach, y=1 if fishing from a private boat and y=2 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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Microeconometrics Methods And Applications

ISBN: 9780521848053

1st Edition

Authors: A.Colin Cameron, Pravin K. Trivedi

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