An Ordered Tobit Model of Market Participation: Evidence from Kenya and Ethiopia
用肯尼亚和埃塞俄比亚的农户数据，检验农户是同时决定是否参与市场及买卖数量，还是先决定参与状态再决定数量，结果支持分步决策，并讨论了福利含义。
Do rural households in developing countries make market participation and volume decisions simultaneously or sequentially? This article develops a two‐stage econometric method to test between these two competing hypotheses regarding household‐level marketing behavior. The first stage models the household's choice of whether to be a net buyer, autarkic, or a net seller in the market. The second stage models the quantity bought (sold) for net buyers (sellers) based on observable household characteristics. Using household data from Kenyan and Ethiopian livestock markets, we find evidence in favor of sequential decision making, the welfare implications of which we discuss.