Testing for Misspecification in a Censored-Demand Model

Andrew Tan and Teofilo Ozuna

Review of Agricultural Economics, 1994, vol. 16, issue 2, 293-299

Abstract: This article presents and applies conditional moment tests for detecting misspecification in a censored-demand model. The seriousness of model misspecification is examined by comparing parameter estimates of a misspecified parametric model to those of a semiparametric model. Results indicate that the conditional moment tests are useful in detecting heteroscedasticity and non-normality, and that misspecification can have an adverse effect on parameter estimates.

Date: 1994
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