Journal of Agricultural and Resource Economics (Jul 1994)
Modeling Nonnegativity Via Truncated Logistic and Normal Distributions: An Application to Ranch Land Price Analysis
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.
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