MODELING NONNEGATIVITY VIA TRUNCATED LOGISTIC AND NORMAL DISTRIBUTIONS: AN APPLICATION TO RANCH LAND PRICE ANALYSIS
By: Xu, Feng; Mittelhammer, Ronald C.; Torell, L. Allen
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Xu, Feng; Mittelhammer, Ronald C.; Torell, L. Allen, MODELING NONNEGATIVITY VIA TRUNCATED LOGISTIC AND NORMAL DISTRIBUTIONS: AN APPLICATION TO RANCH LAND PRICE ANALYSIS, Journal of Agricultural and Resource Economics, Volume 19, Issue 1, July 1994, Pages 102-114
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Abstract
This study presents an empirical method of modeling the nonnegativity of dependent variables using truncated logistic and normal disturbance distributions. The method is applied in estimating a ranch land hedonic price function. Results show that the degree of truncation is significant.