BAYES' ESTIMATES OF THE DOUBLE HURDLE MODEL IN THE PRESENCE OF FIXED COSTS
| dc.creator | Holloway, Garth J. | |
| dc.creator | Barrett, Christopher B. | |
| dc.creator | Ehui, Simeon K. | |
| dc.date | 2017-04-01T20:15:52Z | |
| dc.date.accessioned | 2026-07-09T03:11:51Z | |
| dc.description | We present a model of market adoption (participation) where the presence of non-negligible fixed costs leads to non-zero censoring of the traditional double-hurdle regression. Fixed costs arise due to household resources that must be devoted a priori to the decision to participate in the market. These costs-usually a cost of time-motivate two-step decision-making and focus attentions on the minimum-efficient scale of operations (the minimum amount of milk sales) at which market entry becomes viable. This focus, in turn, motivates a non-zero-censored Tobit regression estimated through routine application of Markov chain Monte Carlo Methods. | |
| dc.identifier | doi:10.22004/ag.econ.14741 | |
| dc.identifier | https://ageconsearch.umn.edu/record/14741/files/wp020042.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/14741 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/528277 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/14741 | |
| dc.title | BAYES' ESTIMATES OF THE DOUBLE HURDLE MODEL IN THE PRESENCE OF FIXED COSTS | |
| dc.type | Text |