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Quarterly Journal of Econometrics Research

June 2018, Volume 4, 1, pp 1-9

Triple Hurdle Model with Zero Expenditures

Yeong Nain Chi

Yeong Nain Chi 1

  1. Assistant Professor of Agricultural Economics and Quantitative Methods Department of Agriculture, Food and Resource Sciences University of Maryland Eastern Shore Princess Anne, MD 21853,USA 1

on Google Scholar
on PubMed

Pages: 1-9

DOI: 10.18488/journal.88.2018.41.1.9

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Article History:

Received: 05 October, 2018
Revised: 01 November, 2018
Accepted: 03 December, 2018
Published: 31 December, 2018


Abstract:

The Tobit model is a one-step decision method, implying that the decision to participate and the decision of how much to spend are influenced by the same variables and in the same manner. The double hurdle model is a two-step decision process; consumers first decide whether or not to participate, and then a second decision is made on how much to spend. The triple hurdle model has three separate stochastic decision choices for the first stage of awareness, the second stage of participation, and a final stage of consumption decision. This study provides a guidance in the choice of an appropriate model, which all observations can be used in the estimation for awareness and participation decisions, but only positive observations that pass awareness, participation and consumption decisions simultaneously can be used in the estimation based on a censored and truncated sample, allowing for richer interpretation of consumer choice behavior.
Contribution/ Originality
This study provides guidance in the choice of an appropriate model in the Tobit model, double hurdle model, and triple hurdle model in empirical expenditure analyses, which contain a high proportion of zero expenditure in the microdata, based on the Likelihood Ratio test.

Keywords:

Zero expenditures, Tobit model, Double hurdle model, Triple hurdle model, Likelihood ratio test.

Reference:


Statistics:

Google Scholor ideas Microsoft Academic Search bing Google Scholor

Funding:

This study received no specific financial support.

Competing Interests:

The authors declare that they have no competing interests.

Acknowledgement:


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