[Limdep Nlogit List] random parameters probit

[Andreas Drichoutis]

Dear all,

 

I'm estimating a random parameters probit model for panel data using the
below syntax:

 

namelist ;
x=period,treat_pr,treat_tr,per_pric,gender,age,hsize,totfee,econpos1,econpos
2,econpos3,econpos4 $ 

skip $

calc ; ran(12345) $ 

probit ; lhs=pr12 ; rhs=one,x ; pds=10;rpm ;
fcn=one(n),treat_pr(n),treat_tr(n),per_pric(n);marginal ;HALTON $

 

The marginal effects are exhibited below. Shouldn't marginal effects be
bounded by 0 and 1? What is the interpretation of the constant with a value
of -1.81?

 

 

Best,

Andreas Drichoutis

 

+-------------------------------------------+

| Partial derivatives of expected val. with |

| respect to the vector of characteristics. |

| They are computed at the means of the Xs. |

| Conditional Mean at Sample Point    .1488 |

| Scale Factor for Marginal Effects   .2319 |

+-------------------------------------------+

+--------+--------------+----------------+--------+--------+----------+

|Variable| Coefficient  | Standard Error |b/St.Er.|P[|Z|>z]| Mean of X|

+--------+--------------+----------------+--------+--------+----------+

|PERIOD  |     .02031***       .00460608     4.411   .0000   5.5000000|

|GENDER  |    -.21272***       .05148147    -4.132   .0000    .3943662|

|AGE     |     .02178*         .01251948     1.740   .0818   20.732394|

|HSIZE   |    -.04473**        .02031084    -2.202   .0276   4.3802817|

|TOTFEE  |     .03920*         .02344034     1.672   .0944   16.711268|

|ECONPOS1|     .63131***       .15221410     4.148   .0000    .2676056|

|ECONPOS2|     .86991***       .17124291     5.080   .0000    .2676056|

|ECONPOS3|     .52777***       .14281117     3.696   .0002    .3239437|

|ECONPOS4|     .63638***       .16133022     3.945   .0001    .0845070|

|Constant|   -1.81231***       .54906879    -3.301   .0010            |

|TREAT_PR|     .18384***       .04980352     3.691   .0002    .4929577|

|TREAT_TR|    -.02049          .03827036     -.535   .5923    .5070423|

|PER_PRIC|    -.02757***       .00698740    -3.946   .0001   2.7112676|

+--------+------------------------------------------------------------+

| Note: ***, **, * = Significance at 1%, 5%, 10% level.               |

+---------------------------------------------------------------------+