IDEAS home Printed from https://ideas.repec.org/a/bla/obuest/v55y1993i3p355-61.html
   My bibliography  Save this article

A Note on the Use of the Log-Logistic Functional Form for Modelling Saturation Effects

Author

Listed:
  • Bacon, Robert W

Abstract

This note suggests that the logistic function is often not suitable for modeling aggregate demand or ownership levels because of the fact that the independent variable is defined to lie between minus and plus infinity (unlike many economic variables which are positive). This imposes strictly positive (possibly large) levels of ownership when the independent variable is zero. The log logistic is proposed as an alternative functional form. This is shown to have logistic function properties as between the dependent variable and the log of the independent variable. The relation between the dependent variable and the independent variable is described, and conditions for this to have a sigmoid shape are given. The use of the two curves is illustrated for the relationship between real income and ownership levels for five consumer durables. Copyright 1993 by Blackwell Publishing Ltd

Suggested Citation

  • Bacon, Robert W, 1993. "A Note on the Use of the Log-Logistic Functional Form for Modelling Saturation Effects," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 55(3), pages 355-361, August.
    • Handle: RePEc:bla:obuest:v:55:y:1993:i:3:p:355-61
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gebrenegus Ghilagaber, 2005. "The Extended Generalized Gamma Model and its Special Cases: Applications to Modeling Marriage Durations," Quality & Quantity: International Journal of Methodology, Springer, vol. 39(1), pages 71-85, February.
    2. David D. Hanagal, 2021. "RETRACTED ARTICLE: Positive Stable Shared Frailty Models Based on Additive Hazards," Statistics in Biosciences, Springer;International Chinese Statistical Association, vol. 13(3), pages 431-453, December.
    3. Pandey Arvind & Hanagal David D. & Tyagi Shikhar, 2022. "Generalised Lindley shared additive frailty regression model for bivariate survival data," Statistics in Transition New Series, Polish Statistical Association, vol. 23(4), pages 161-176, December.
    4. Abdisalam Hassan Muse & Samuel M. Mwalili & Oscar Ngesa, 2021. "On the Log-Logistic Distribution and Its Generalizations: A Survey," International Journal of Statistics and Probability, Canadian Center of Science and Education, vol. 10(3), pages 1-93, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:obuest:v:55:y:1993:i:3:p:355-61. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/sfeixuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.