A Model for Ordered Data with Clustering of Observations
AuthorFry, Tim R. L.; Harris, Mark N.
AffiliationEconomics and Commerce: Melbourne Institute of Applied Economic and Social Research
CitationsFry, Tim R. L. and Harris, Mark N. (2000) A Model for Ordered Data with Clustering of Observations .
Access StatusOpen Access
There is no qualitative dependent model that can simultaneously account for data sets in which the variable of interest has both a multi-modal distribution and is potentially ordered. Such a multimodal distribution may be the result of individuals being captive to particular choices. Such a case arises when there is digit preferencing (particular numbers, such as 0, 5 and 101 are often favored in many survey-based data sets). This paper introduces a new discrete choice model, the Digit Ordered Extreme Value (DOGEV), that does account for both ordering and digit preferencing in the data, and applies it to an Australian Inflationary Expectations data set.
Keywordsordered data; digit preferences; inflationary expectations; JEL Classifications: C25 Discrete Regression and Qualitative Choice Models; D12 Consumer Economics: Empirical Analysis; E31 Price Level; Inflation; Deflation
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