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From |
"Bann Bann" <Bannho@gmx.de> |

To |
statalist@hsphsun2.harvard.edu |

Subject |
st: Nested logit with purely individual-specific data. STATA10 |

Date |
Sun, 06 Jul 2008 01:59:02 +0200 |

Dear all, I am having trouble estimating a simple (one nest) nested logit model with purely individual-specific data using STATA 10. I am relating takeover probabilities to firms' accounting data (for example firm leverage, short lev). The dependent variable (atd) takes on 1 if no takeover, 2 if friendly and 3 if hostile. With this setup I get: . nlogit atd lev || lev1: || atd:, case(gvkey) note: 216 cases dropped because they have only one alternative depvar atd must be a 0-1 variable indicating which alternatives are chosen Even though redundant, I then created a data set with three rows per firm (each value of the dependent) and a "decision" variable indicating which value of the dependent is correct. For the explanatory variables I simply replicate each value three times. I get the following error: . nlogitgen lev1 = ATD (takeover: 2|3, notakeover: 1) new variable lev1 is generated with 2 groups label list lb_lev1 lb_lev1: 1 takeover 2 notakeover . nlogit Decision LEV || lev1: || ATD:, case(gvkey) note: 17 cases (105 obs) dropped due to no positive outcome or multiple positive outcomes per case variable LEV is not alternative-specific: it has no within-case variability r(459); Additionally I tried setting up the data set with the STATA function "fillin" recommended in some postings. This also creates three observations. In contrast to my data set above I do not get three equivalent observations per firm, but two observations with missing value for the options not chosen. . fillin coname atd . browse . rename _fillin chosen . replace chosen = 1 - chosen (604 real changes made) . nlogitgen lev1 = atd (takeover: 2|3, notakeover: 1) new variable lev1 is generated with 2 groups label list lb_lev1 lb_lev1: 1 takeover 2 notakeover . nlogit chosen lev || lev1: || atd:, case(gvkey) note: 216 cases dropped because they have only one alternative note: 8 cases (17 obs) dropped due to no positive outcome or multiple positive outcomes per case no cases remain after removing invalid observations r(2000); Theoretically I do not see why my estimation should not work. I'm running out of ideas, so any help would be appreciated. Thanks a lot, Benjamin -- Psssst! Schon das coole Video vom GMX MultiMessenger gesehen? Der Eine für Alle: http://www.gmx.net/de/go/messenger03 * * For searches and help try: * http://www.stata.com/support/faqs/res/findit.html * http://www.stata.com/support/statalist/faq * http://www.ats.ucla.edu/stat/stata/

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