A Smooth Transition Logit Model of The Effects of Deregulation in the Electricity Market
电力市场放松管制影响的平滑转换 Logit 模型
This paper introduces the smooth transition logit (STL) model that is designed to detect and model situations in which there is structural change in the behaviour underlying the latent index from which the binary dependent variable is constructed. The maximum likelihood estimators of the parameters of the model are derived along with their asymptotic properties, together with a Lagrange multiplier test of the null hypothesis of linearity in the underlying latent index. The…