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st: Missing standard error for Nlogit Inclusive Value |

Date |
Wed, 9 Feb 2005 18:30:45 +0100 |

dear all, I'm investigating financing decisions of small firms and I'm using a nested logit to model them. When I use STATA 8, I always get dots in the (IV params) section, as follows: nlogit Dchoice (posschoi= lsdsd_o lsdsd_b lrdinten_o lrdinten_b lage_o lage_b ) (ext_int= llncapinv_a lincen_a ltgasset_a lcashflo_a llever_a difflev_a), group(grp) tree structure specified for the nested logit model top --> bottom ext_int posschoi -------------------------- debt 0 1 autof 2 initial: = -890.61013 rescale: = -890.61013 rescale eq: = -881.41885 Iteration 0: log likelihood = -881.41885 Iteration 1: log likelihood = -881.11793 (backed up) Iteration 2: log likelihood = -881.11422 (backed up) Iteration 3: log likelihood = -880.78024 (backed up) Iteration 4: log likelihood = -880.54555 (backed up) Iteration 5: log likelihood = -880.43086 (backed up) Iteration 6: log likelihood = -880.41612 (backed up) Iteration 7: log likelihood = -880.36322 (backed up) Iteration 8: log likelihood = -880.32841 (backed up) Iteration 9: log likelihood = -880.29477 (backed up) Iteration 10: log likelihood = -879.81536 (backed up) Iteration 11: log likelihood = -879.79723 (backed up) Iteration 12: log likelihood = -879.37898 Iteration 13: log likelihood = -879.03583 Iteration 14: log likelihood = -878.85494 BFGS stepping has contracted, resetting BFGS Hessian (0) Iteration 15: log likelihood = -878.77095 Iteration 16: log likelihood = -878.75297 (backed up) Iteration 17: log likelihood = -878.75255 (backed up) Nested logit Levels = 2 Number of obs = 3972 Dependent variable = Dchoice LR chi2(12) = 1151.62 Log likelihood = -878.75255 Prob > chi2 = 0.0000 ------------------------------------------------------------------------------ | Coef. Std. Err. z P>|z| [95% Conf. Interval] -------------+---------------------------------------------------------------- posschoi | lsdsd_o | .004309 .0186682 0.23 0.817 -.03228 .040898 lsdsd_b | .0039733 .0186788 0.21 0.832 -.0326365 .0405831 lrdinten_o | -.257973 .4507444 -0.57 0.567 -1.141416 .6254699 lrdinten_b | -.0662926 .446717 -0.15 0.882 -.9418418 .8092566 lage_o | -2.014462 .0959822 -20.99 0.000 -2.202584 -1.826341 lage_b | -.8130758 . . . . . -------------+---------------------------------------------------------------- ext_int | llncapinv_a | .1565505 .0318874 4.91 0.000 .0940524 .2190486 lincen_a | -.2021057 .1224135 -1.65 0.099 -.4420317 .0378203 ltgasset_a | .0052008 .0041965 1.24 0.215 -.0030242 .0134257 lcashflo_a | -.0000758 .0000223 -3.41 0.001 -.0001195 -.0000322 llever_a | -.0287271 .0023722 -12.11 0.000 -.0333766 -.0240776 difflev_a | .0520366 .0059348 8.77 0.000 .0404046 .0636687 -------------+---------------------------------------------------------------- (IV params) | | ext_int | /debt | -.0194676 .0893842 -0.22 0.828 -.1946575 .1557223 /autof | 1 . . . . . ------------------------------------------------------------------------------ LR test of homoskedasticity (iv = 1): chi2(0)= 3.46 Prob > chi2 = . ------------------------------------------------------------------------------ . end of do-file . Notice that all regressors are interacted with alternative specific constants ("o" for alternative 0, "b" for alternative 1, "a" for alternative 2 in the tree above), as all explanatory variables are firm specific attributes. I do not have choice specific attributes. I have tried several specifications, some of them include alternative specific constants, some do not (as the one reported above), but the same result pops up for the INCLUSIVE VALUE /autof: its coefficient is either 1 or 0.5, but its standard error is always missing... What could it be the cause of it? Many thanks in advance Mariarosaria Mariarosaria Agostino, PhD student Dipartimento di Economia e Statistica Universit� della Calabria Arcavacata di Rende (CS) Italia ------------------------------------------------- This mail sent through IMP: http://horde.org/imp/ * * 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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