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Re: AW: st: Nested Logit Model
From
Nitin Dua <[email protected]>
To
[email protected]
Subject
Re: AW: st: Nested Logit Model
Date
Thu, 15 Jul 2010 16:44:34 -0400
Marc,
Do you want different coefficients by alternative? because, thats what your syntax suggests.
Also, you may be already aware of this ---- by using the same variables for nest type choice as well as for the final alternative choice you are introducing collinearity in the model and it cannot be estimated.
Nitin
----- Original Message -----
From: Marc Michelsen <[email protected]>
Date: Thursday, July 15, 2010 11:54 am
Subject: AW: st: Nested Logit Model
To: [email protected]
> Anders,
>
> thanks for your comments.
>
> Of course I have first used -nlogitgen- and -nlogitree- to set up
> the nested
> structure of my panel data. Please see below for more details:
>
> . nlogitgen issuetype = mode(NonIssuer: NoIssue , Issuer: Debt |
> Equity). nlogittree mode issuetype, choice(d)
> tree structure specified for the nested logit model
>
> issuetype N mode N k
> -----------------------------------------
> NonIssuer 29458 --- NoIssue 29458 21695
> Issuer 58916 --- Debt 29458 6109
> +- Equity 29458 1654
> -----------------------------------------
> total 88374 29458
>
> k = number of times alternative is chosen
> N = number of observations at each level
>
> . nlogit d a || issuetype: StandMBRatio BLeverage OpPerformance Size
> RDExpense RDExpenseDummy Tangibility posoutl negoutl,
> base(NonIssuer) ||
> mode: StandMBRatio BLeverage OpPerformance Size RDExpense
> RDExpenseDummyTangibility posoutl negoutl, base(Debt) case(No)
> notree nolog
>
> Error Message <variables "StandMBRatio BLeverage OpPerformance Size
> RDExpense RDExpenseDummy Tangibility posoutl negoutl " are
> specified in more
> than one equation; this is not allowed>
>
> Does this help to clarify the problem?
>
> Regards
> Marc
>
> -----Ursprüngliche Nachricht-----
> Von: [email protected]
> [mailto:[email protected]] Im Auftrag von Anders
> Alexandersson
> Gesendet: Donnerstag, 15. Juli 2010 17:30
> An: [email protected]
> Betreff: Re: st: Nested Logit Model
>
> Marc, try -nlogitgen- and -nlogittree- before running -nlogit-, as in
> the helpfile.
> Please provide what you typed instead of schematic syntax like
> "[explanatory variables]", e.g., what is your "altvar"?
>
> Anders Alexandersson
> [email protected]
>
> On Thu, Jul 15, 2010 at 10:22 AM, Marc Michelsen
> <[email protected]> wrote:
> > I am trying to run a nested logit model comparable to
> Huang/Ritter (2009)
> > "Testing Theories of Capital Structure and
> > Estimating the Speed of Adjustment", p. 253:
> > 2-layered Security Issuance Decision: Limbs: NoIssue vs. Issue /
> Branches> for "Issue": Debt Issuance vs. Equity Issuance.
> >
> > Similar to the above mentioned study, I have the same explanatory
> variables
> > for the first decision layer (Issue vs. NoIssue) and the second
> layer(Debt
> > vs. Equity). Apparently, this is not valid for Stata as I get the
> following
> > error message:
> > <"variables ".." are specified in more than one equation; this is
> not> allowed>
> >
> > My command looks the following:
> > . nlogit d a || issuetype: [explanatory variables],
> base(NonIssuer) ||
> > issuetype2: [explanatory variables], base(NoIssue) case(No)
> notree nolog
> >
> > What is wrong with my model specification/general approach?
>
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