Measuring goodness of fit for the double-bounded logit model

The traditional approaches of measuring goodness of fit are shown to be inappropriate in the case of the double-bounded logit model. An alternate approach called the "sequential classification procedure" is presented as a possible alternative to the standard tests. The double-bounded logit...

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Veröffentlicht in:	American journal of agricultural economics 1995-11, Vol.77 (4), p.885-890
Hauptverfasser:	Kanninen, B.J. (Hubert H. Humphrey Institute of Public Affairs.), Khawaja, M.S
Format:	Artikel
Sprache:	eng
Schlagworte:	ABASTECIMIENTO DE AGUA Agricultural economics APPROVISIONNEMENT EN EAU C250 C520 CALIFORNIA CALIFORNIE COMPORTAMIENTO DEL CONSUMIDOR COMPORTEMENT DU CONSOMMATEUR contingent valuation Decision models discrete choice double-bounded model Economic models Economic value ESTIMACION Goodness of fit goodness-of-fit test logit MEDICION MESURE MODELE Modeling MODELOS Parametric models Preliminary estimates Q250 Sample size VALEUR D'ESTIMATION Valuation
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Beschreibung
Zusammenfassung:	The traditional approaches of measuring goodness of fit are shown to be inappropriate in the case of the double-bounded logit model. An alternate approach called the "sequential classification procedure" is presented as a possible alternative to the standard tests. The double-bounded logit model is reviewed along with the standard goodness-of-fit measures. The sequential classification procedure and its features are presented in the context of an empirical example
ISSN:	0002-9092 1467-8276
DOI:	10.2307/1243811