16
Table 3: Simulated ML estimates from choice experiment, mixed logit
Bulls traits |
Mean coefficient |
Standard deviation |
Random parameters in utility function |
0.4556*** |
0.6684*** |
Traction potential |
(0.0842) 1.6838*** |
(0.0812) 1.4233*** |
Fertility |
(0.1302) 0.3747*** |
(0.1181) 0.7235*** |
Liveweight in Kg |
(0.1209) 0.2772*** |
(0.1053) 0.3650*** |
Purchase price (US$) |
(0.0956) -0.2319* |
(0.0529) 0.3087*** |
(0.1278) |
(0.2425) |
Non-random parameters in utility function Low watering frequency 0.1831*** (0.0501) Dark coat colour -0.0278 | |
Constant |
(0.0535) -2.4696*** |
(0.2792)_________________________________________ | |
Simulated log likelihood at convergence |
-1231.072 N=2783 |
Likelihood ratio testa 941.8 (χ02.99(20) = |
37.6); McFadden R2b = 0.312; Halton draws=100 |
Cows traits
Random parameters in utility function
Purchase price (US$) |
-0.0333* |
0.1161*** |
Trypanotolerance |
(0.0145) 1.5671*** |
(0.0279) 2.1548*** |
Supplementary feeds |
(0.0988) -0.4217*** |
(0.1933) 0.7299*** |
Milk yield |
(0.0908) 0.4429*** |
(0.1656) 0.4422*** |
Reproduction ability |
(0.0741) 0.4866*** |
(0.1294) 0.7166*** |
(0.0965) |
(0.1744) |
Non-random parameters in utility function | |
Low watering frequency |
0.0991 |
(0.0606) | |
Dark coat colour |
-0.0359 |
(0.0505) | |
Liveweight in Kg |
0.2911*** |
(0.0942) | |
Constant |
-2.4601*** |
(0.3169)_________________________________________ |
Simulated log likelihood at convergence -1391.685 N=3036
Likelihood ratio testa 793.6 (χ02.99(20) =37.6); McFadden R2b =0.222; Halton draws=100
a The likelihood ratio test is given by 2(Lβ-Lω), where Lω is the unrestricted maximum log-likelihood from the
mixed logit estimation and Lω is the restricted maximum log-likelihood from the multinomial logit estimation. It
has an asymptotic χ2(k) distribution where k is the number of required restrictions.
b McFadden R2 is computed as R 2=1- Lω Lω
***, **, * indicate that coefficients are statistically significant at the 1, 5 and 10 % levels, respectively, using
P-values in maximum likelihood estimation. Robust standard errors in parenthesis.
More intriguing information
1. The name is absent2. Linkages between research, scholarship and teaching in universities in China
3. The growing importance of risk in financial regulation
4. The name is absent
5. The name is absent
6. The name is absent
7. The East Asian banking sector—overweight?
8. Weak and strong sustainability indicators, and regional environmental resources
9. The name is absent
10. Delayed Manifestation of T ransurethral Syndrome as a Complication of T ransurethral Prostatic Resection