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Application Of Maximum Likelihood To A Bivariate Two-Limit Tobit Model For Estimation Of Rural Retail Sales Potential

Author

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  • Thomas R Harris

    (University of Nevada, Reno)

  • J. S. Shonkwiler

    (University of Nevada, Reno)

Abstract
A bivariate likelihood function for a two-limit tobit model is developed and applied to the estimation of rural resident shopping patterns. Comparison of results from the univariate and bivariate models shows that parameters are estimated with more precision, and derivatives of conditional expectations are larger under the bivariate procedure. Results suggest rural commercial sector development plans should address a broad array of retail stores in order to capture the interdependencies of retail purchases.

Suggested Citation

  • Thomas R Harris & J. S. Shonkwiler, 1994. "Application Of Maximum Likelihood To A Bivariate Two-Limit Tobit Model For Estimation Of Rural Retail Sales Potential," The Review of Regional Studies, Southern Regional Science Association, vol. 24(2), pages 143-159, Fall.
    • Handle: RePEc:rre:publsh:v24:y:1994:i:2:p:143-159
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    References listed on IDEAS

    as
    1. Henderson, David A., 1990. "Rural Retail Sales and Consumer Expenditure Functions," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 42(3), pages 1-8.
    2. Chesher, Andrew, 1985. "Score tests for zero covariances in recursive linear models for grouped or censored data," Journal of Econometrics, Elsevier, vol. 28(3), pages 291-305, June.
    3. Bresnahan, Timothy F & Reiss, Peter C, 1991. "Entry and Competition in Concentrated Markets," Journal of Political Economy, University of Chicago Press, vol. 99(5), pages 977-1009, October.
    4. Hamilton, Joel R., 1981. "Population Change And Retail Sales Patterns In Local Authority Areas Of Queensland," A.E. Research Series 305019, University of Idaho, Department of Agricultural Economics and Rural Sociology.
    5. John F. Yanagida & Bruce B. Johnson & Joel Young & Michael Lundeen, 1991. "An Analysis Of Economic And Noneconomic Factors Affecting Retail Sales Leakages," The Review of Regional Studies, Southern Regional Science Association, vol. 21(1), pages 53-64, Spring.
    6. Huang, Cliff J & Sloan, Frank A & Adamache, Killard W, 1987. "Estimation of Seemingly Unrelated Tobit Regressions via the EM Algorithm," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(3), pages 425-430, July.
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    Cited by:

    1. George Ebai & Thomas R. Harris, 1997. "Factors Influencing Trade Area Activity in the Great Basin Area," The Review of Regional Studies, Southern Regional Science Association, vol. 27(3), pages 251-275, Winter.
    2. McGurr, Paul T. & DeVaney, Sharon A., 1996. "Patterns of Retail Change: A Comparison of Metropolitan and Nonmetropolitan Counties in Indiana 1972 to 1992," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 26(2), pages 1-13.
    3. H. Fredrick Gale, Jr., 1996. "Retail Sales Pull Factors In U.S. Counties," The Review of Regional Studies, Southern Regional Science Association, vol. 26(2), pages 177-195, Fall.
    4. repec:rre:publsh:v:33:y:2003:i:3:p:328-42 is not listed on IDEAS

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