000			01984nab a22003017a 4500
001			G69271
003			MX-TxCIM
005			20230102225355.0
008			121211b |||p||p||||||| |z||| |
022			_a0012-9682
022			_a1468-0262 (Online)
024			_2https://doi.org/10.2307/1907382
040			_aMX-TxCIM
041			_aeng
090			_aREP-802
100	1		_aTobin, J. _929526
245	1	0	_aEstimation of relationships for limited dependent variables
260			_c1958. _aUnited Kingdom : _bThe Econometric Society,
340			_aPrinted
520			_aIn economic surveys of households, many variables have the following characteristics: The variable has a lower, or upper, limit and takes on the limiting value for a substantial number of respondents. For the remaining respondents, the variable takes on a wide range of values above, or below, the limit. The phenomenon is quite familiar to students of Engel curve relationships showing how household expenditures on various categories of goods vary with household income. For many categories-"luxuries" -zero expenditures are the rule at low income levels. A single straight line cannot, therefore, represent the Engel curve for both low and high incomes. If individual households were identical, except for income level, the Engel curve would be a broken line like OAB in Figure 1. But if the critical income level OA were not the same for all households, the average Engel curve for groups of households would look like the curve OB. A similar kind of effect occurs under rationing of a consumers' good. The ration is an pper limit; many consumers choose to take their full ration, but some prefer to buy less.
546			_aText in English
595			_aRPC
650		7	_2AGROVOC _91093 _aEconomics
650		7	_2AGROVOC _94859 _aModels
650		0	_2AGROVOC _929527 _aEquations
773	0		_tEconometrica _gv. 26, no. 1, p. 24-36 _dUnited Kingdom : The Econometric Society, 1958. _x0012-9682
942			_cJA _2ddc
999			_c19905 _d19905