An asymptotic foundation for logit models

Article Abstract:

A study evaluates logit models of estimating utility maximization in spatial economics. Utility distributions and choice probabilities are examined relative to presence and non-presence of spatial differentiation. The study formulates asymptotic foundation to the logit model correlated to a discrete choice theory. It was revealed that decision maker's choice with a given set of alternatives and observations is being governed by the logit model.

Econometrics & Model Building, Decision-making, Decision making, Econometrics, Business models, Logits

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Testing neoclassical convergence in regional incomes and earnings

Article Abstract:

The neoclassical growth model predicting a convergence in regional incomes and earnings is tested via the use of time-series data and analysis. Findings show positive proof of a convergence in per capita incomes for the period 1929-1990, except for the year 1946. However, per capita earnings did not show an equally conclusive proof of convergence as abnormal or erratic conditions in certain years tended to persist.

Economic development, Regional economics, Income

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