Applying Theil's Multinomial Extension of the Linear Logit Model to Meat Expenditure Data

Ronald Bewley and Trevor Young

American Journal of Agricultural Economics, 1987, vol. 69, issue 1, 151-157

Abstract: One of the chief drawbacks of the multinomial extension of the linear logit model is that, after the standard linearization, the parameters which are directly estimated have no obvious economic meaning. This paper presents alternative transformations which facilitate interpretation. In one linearization the estimated coefficients will be elasticities at a selected data point such as the mean. In another form, the coefficients will be Slutsky parameters. The latter version is chosen for an empirical analysis of the demand for meat in Great Britain. A number of issues concerning the model's error structure and dynamic specification are discussed.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:69:y:1987:i:1:p:151-157.

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