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st: Nested Logit Model


From   "Marc Michelsen" <marcmichelsen@t-online.de>
To   <statalist@hsphsun2.harvard.edu>
Subject   st: Nested Logit Model
Date   Thu, 15 Jul 2010 16:22:00 +0200

Dear all,

I am trying to run a nested logit model comparable to Huang/Ritter (2009)
"Testing Theories of Capital Structure and
Estimating the Speed of Adjustment", p. 253: 
2-layered Security Issuance Decision: Limbs: NoIssue vs. Issue / Branches
for "Issue": Debt Issuance vs. Equity Issuance. 

Similar to the above mentioned study, I have the same explanatory variables
for the first decision layer (Issue vs. NoIssue) and the second layer (Debt
vs. Equity). Apparently, this is not valid for Stata as I get the following
error message: 
<"variables ".." are specified in more than one equation; this is not
allowed>

My command looks the following:
. nlogit d a || issuetype: [explanatory variables], base(NonIssuer) ||
issuetype2:  [explanatory variables], base(NoIssue) case(No) notree nolog

What is wrong with my model specification/general approach?

Thanks for your consideration
Marc

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