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ABSTRACT:
The Cressie-Read (CR) family of power divergence measures is used to identify a new class of statistical models and estimators for competing explanations of the data in binary choice models. A large flexible class of cumulative distribution functions and associated probability density functions emerge that subsumes the conventional logit model, and forms the basis for a large set of estimation alternatives to traditional logit and probit methods. Asymptotic properties of estimators are identified, and sampling experiments are used to provide a basis for gauging the finite sample performance of the estimators in this new class of statistical models.

SUGGESTED CITATION:
Ron C. Mittelhammer Dr. and George G. Judge, "A Minimum Power Divergence Class of CDFs and Estimators for Binary Choice Models" (July 8, 2008). Department of Agricultural & Resource Economics, UCB. CUDARE Working Paper 1059.
http://repositories.cdlib.org/are_ucb/1059