Fractional multinomial response models with an application to expenditure shares

Koch, Steven F.

dc.contributor.upauthor	Koch, Steven F.
dc.date.accessioned	2010-11-30T13:08:51Z
dc.date.available	2010-11-30T13:08:51Z
dc.date.issued	2010-10
dc.description.abstract	The research presented here considers the performance of the Fractional Multinomial Logit (FMNL) model in explaining expenditure shares using data from the 2005/06 South African Income and Expenditure Survey. The results suggest that the FMNL performs favourably, when the dataset is large enough, but that it does not perform as well, when the dataset is limited. Expenditure elasticities were also estimated, and compared to the expenditure shares from a QUAIDS model. The resulting expenditure shares are fairly similar across model specification; however, the FMNL model does incorporate additional curvature, which is easily observed when comparing the QUAIDS elasticities to the FMNL elasticities.	en
dc.identifier.citation	Koch, SF 2010, 'Fractional multinomial response models with an application to expenditure shares', University of Pretoria, Department of Economics, Working paper series, no. 2010-21. [http://web.up.ac.za/default.asp?ipkCategoryID=736&sub=1&parentid=677&subid=729&ipklookid=3]	en
dc.identifier.uri	http://hdl.handle.net/2263/15367
dc.language.iso	en	en_US
dc.publisher	University of Pretoria, Department of Economics	en_US
dc.relation.ispartofseries	Working Paper (University of Pretoria, Department of Economics)	en_US
dc.relation.ispartofseries	2010-21	en_US
dc.rights	University of Pretoria, Department of Economics	en_US
dc.subject	Expenditure shares	en
dc.subject	Multinomial fractional logit	en
dc.subject	Multinominal logit models	en
dc.subject.lcsh	Expenditures, Public	en
dc.subject.lcsh	Elasticity (Economics)	en
dc.title	Fractional multinomial response models with an application to expenditure shares	en
dc.type	Working Paper	en