 &CARD1
 NOBS    =        1000,
 NC      =           1,
 NF      =        1000,
 NFP     =        1000,
 NOBEL   =           1,
 NM      =           0,
 NSTEP   =         500,
 EPSI    =  1.000000000000000E-007,
 WGHT    =   1.00000000000000     
 /
 &CARD2
 NB      =           3,
 NRO     =           0,
 NSL     =           0,
 NGF     =           0,
 MAXF    =           0,
 NGV     =           1,
 MAXV    =           3,
 NLY     =           1,
 NDM     =          -1,
 NLE     =           0,
 ND      =           0
 /
 &CARD3
 NCOR    =           0,
 NRES    =           0,
 NPW     =           0,
 NGUVW   =           0,
 NPDQL   =           0,
 NCOV    =           0,
 NEY     =           0,
 VARNAME = BC2      ,
 NVARIANT        =           9
 /



Working space used : 18217 out of 500000


 group           1 (estimated lambda(x))
 initial value:   1.00000000000000     
 variable no.
   1   2   3


 lambda(y) initial value:   1.00000000000000     
 upper limit for y   0.000000000000000E+000



no.  variable       minimum        mean         maximum    null obs.

     Tij          0.58995D+04   0.25740D+08   0.34194D+09        0
  1  Ti           0.15809D+05   0.18607D+06   0.35135D+06        0
  2  Tj           0.69620D+04   0.18512D+06   0.43378D+06        0
  3  Util_BC4     0.38681D-07   0.73462D-03   0.13996D-01        0
  4  constant     0.10000D+01   0.10000D+01   0.10000D+01        0


INITIAL ESTIMATES
                                                                                       E L A S T I C I T Y   E L A S T I C I T Y
    VARIABLE     LAMBDA(X)    COEFFICIENT      MEAN(X)       STD-ERROR    STUDENT-T    y(sample)  E(y)       y(sample)  E(y)
                                                                                                  SIGMA(y)              SIGMA(y)
                                                                                                  GAMMA(y)              GAMMA(y)
                type  group                                                            -first obs       1    -first obs    1000
                                                                                       -last obs     1000    -last obs     1000
  1 Ti           EL     1    0.2352210D+02  0.1860662D+06  0.1583306D+02     1.4856      0.1700     0.1100     0.0682     0.0572
                                                                                                    0.0385                0.0009
                                                                                                   -0.1361               -0.4707
  2 Tj           EL     1    0.4468529D+02  0.1851223D+06  0.1301859D+02     3.4324      0.3214     0.2078     0.0396     0.0332
                                                                                                    0.0727                0.0005
                                                                                                   -0.2572               -0.2733
  3 Util_BC4     EL     1    0.8938000D+10  0.7346229D-03  0.6409860D+09    13.9441      0.2551     0.1650     1.0059     0.8439
                                                                                                    0.0577                0.0132
                                                                                                   -0.2042               -6.9381
  4 constant     NL     0    0.8944525D+10  0.1000000D+01  0.6398456D+09    13.9792    347.4998   224.7234   103.8457    87.1218
                                                                                                   78.6383                1.3622
                                                                                                 -278.1340             -716.2481

LAMBDA TYPE SYMBOL:
 NL = NO LAMBDA
 FL = FIXED LAMBDA
 EL = ESTIMATED LAMBDA



Derivatives of y(sample), E(y), SIGMA(y) and GAMMA(y)
with respect to the Independent Variables at the sample means

    Variable    Der.y(sample)  Der.E(y)       Der.SIGMA(y)   Der.GAMMA(y)

  1 Ti          0.2352210D+02  0.1804486D+02  0.5880990D+01 -0.5818744D-06

  2 Tj          0.4468529D+02  0.3428009D+02  0.1117221D+02 -0.1105396D-05

  3 Util_BC4    0.8938000D+10  0.6856741D+10  0.2234677D+10 -0.2211025D+03

  4 constant    0.8944525D+10  0.6861747D+10  0.2236308D+10 -0.2212639D+03

MRS between two moments (E(y), SIGMA(y), GAMMA(y))
at the sample means
===============================================

row / col    E(y)        SIGMA(y)    GAMMA(y)  
===============================================

E(y)         0.1000D+01  0.3068D+01 -0.3101D+08

SIGMA(y)     0.3259D+00  0.1000D+01 -0.1011D+08

GAMMA(y)    -0.3225D-07 -0.9894D-07  0.1000D+01


Elasticity of substitution between two moments
(E(y), SIGMA(y), GAMMA(y)) at the sample means
===============================================

row / col    E(y)        SIGMA(y)    GAMMA(y)  
===============================================

E(y)         0.1000D+01  0.2858D+01 -0.8080D+00

SIGMA(y)     0.3499D+00  0.1000D+01 -0.2827D+00

GAMMA(y)    -0.1238D+01 -0.3537D+01  0.1000D+01


MRS of X(l) with respect to X(k) at the sample means
===================================================================================================================================
        X(k) Ti          Tj          Util_BC4    constant  
X(l)
===================================================================================================================================

Ti           0.1000D+01  0.1900D+01  0.3800D+09  0.3803D+09

Tj           0.5264D+00  0.1000D+01  0.2000D+09  0.2002D+09

Util_BC4     0.2632D-08  0.4999D-08  0.1000D+01  0.1001D+01

constant     0.2630D-08  0.4996D-08  0.9993D+00  0.1000D+01


Mean probability of y to be at the lower (upper) limit
if lambda(y) is positive (negative) = 0.2514

Estimation Sample   :       1    1000

             OBSERVED Y     FITTED E(Y)
MEAN         0.2573965D+08  0.3119301D+08
STD.ERROR    0.3864076D+08  0.1413690D+08
SKEWNESS         3.4428570      4.5458730

E(y) at the means   :  0.3053418D+08

Sig(y) at the means :  0.2843791D+08

C.o.V. at the means :      0.9313466

Gam(y) at the means :      0.7955296

Pearson-R2          :      0.1440137

Pearson-R2 bar      :      0.1414354

Pseudo-(l)-R2       :      0.1653107

Pseudo-(l)-R2 bar   :      0.1627965

Error Variance      :  0.1245035D+16

Log-likelihood      : -0.1879791D+05


initialization cards for control routine follow - - id card - no. parameters , no. steps , step size 
minimization tolerance - starting values of parameters - relative uncertainties of parameters (error estimates) - 
and starting direction (relative parameter increments for 1st step)

                                                                              
         2       500   0.1D+01   0.1D-06
  0.10000D+01  0.10000D+01
  0.10000D+01  0.10000D+01
  0.00000D+00  0.00000D+00

first entry to fcn , parameters of current step follow - - f,x(i)
   0.3772278291D+03  0.10000D+01  0.10000D+01

new absolute minimum , parameters for fcn entry     5  follow - - f,x(i)
  -0.6241740365D+03  0.94314D+00  0.11493D+00

new absolute minimum , parameters for fcn entry    11  follow - - f,x(i)
  -0.9420039299D+03  0.45267D-02  0.93828D-01

new absolute minimum , parameters for fcn entry    13  follow - - f,x(i)
  -0.9433215000D+03 -0.11812D-01  0.70133D-01

new absolute minimum , parameters for fcn entry    16  follow - - f,x(i)
  -0.9436307963D+03 -0.19105D-02  0.64824D-01

new absolute minimum , parameters for fcn entry    18  follow - - f,x(i)
  -0.9436308020D+03 -0.18764D-02  0.64873D-01

new absolute minimum , parameters for fcn entry    19  follow - - f,x(i)
  -0.9436308020D+03 -0.18759D-02  0.64873D-01

new absolute minimum , parameters for fcn entry    22  follow - - f,x(i)
  -0.9436308020D+03 -0.18759D-02  0.64873D-01

new absolute minimum , parameters for fcn entry    25  follow - - f,x(i)
  -0.9436308020D+03 -0.18759D-02  0.64873D-01


the function (fcn) has not improved by    0.10000D-06 after 3 steps which include a minimum - - -


therefore the run has been terminated
  -0.9436308020D+03 -0.18759D-02  0.64873D-01

all numbers of last entry refer to final pt. of run

the lowest value of the function (fcn) was  -0.9436308020D+03 for entry   25 - - x(i) follows
 -0.18759D-02  0.64873D-01



run statistics follow - -

nfcn=   25 nst=    8


Mean probability of y to be at the lower (upper) limit
if lambda(y) is positive (negative) = 0.0000

Estimation Sample   :       1    1000

             OBSERVED Y     FITTED E(Y)
MEAN         0.2573965D+08  0.2821892D+08
STD.ERROR    0.3864076D+08  0.3218438D+08
SKEWNESS         3.4428570      2.2996461

E(y) at the means   :  0.5054759D+08

Sig(y) at the means :  0.6011494D+08

C.o.V. at the means :      1.1892741

Gam(y) at the means :      4.2373134

Pearson-R2          :      0.2761912

Pearson-R2 bar      :      0.2725503

Pseudo-(l)-R2       :      0.5749065

Pseudo-(l)-R2 bar   :      0.5727682

Error Variance      :  0.9821700D+01

Log-likelihood      : -0.1747705D+05


FINAL ESTIMATES
                                                                                       E L A S T I C I T Y   E L A S T I C I T Y
    VARIABLE     LAMBDA(X)    COEFFICIENT     GRADIENT       STD-ERROR    STUDENT-T    y(sample)  E(y)       y(sample)  E(y)
                                                                                                  SIGMA(y)              SIGMA(y)
                                                                                                  GAMMA(y)              GAMMA(y)
                type  group                                                            -first obs       1    -first obs    1000
                                                                                       -last obs     1000    -last obs     1000
  1 Ti           EL     1    0.1487413D+01 -0.4527581D-08  0.4205667D+00     3.5367      0.4806     0.4472     0.4441     0.4229
                                                           0.1746442D+00     8.5168                 0.4078                0.3867
                                                                                                   -0.0532               -0.0479
  2 Tj           EL     1    0.1820275D+01 -0.4459962D-08  0.4835722D+00     3.7642      0.5882     0.5473     0.5448     0.5187
                                                           0.1548364D+00    11.7561                 0.4991                0.4743
                                                                                                   -0.0651               -0.0587
  3 Util_BC4     EL     1    0.1590807D+01  0.3349369D-08  0.5217829D+00     3.0488      0.5330     0.4959     0.4905     0.4670
                                                           0.4431363D-01    35.8988                 0.4523                0.4271
                                                                                                   -0.0590               -0.0529
  4 constant     NL     0    0.3754150D+01 -0.3881348D-09  0.4758434D+01     0.7889      1.2410     1.1546     1.1475     1.0925
                                                           0.2893969D+01     1.2972                 1.0531                0.9991
                                                                                                   -0.1373               -0.1237
    Box-cox on (x)

  5 lambda(x) 1             -0.1875858D-02  0.5312746D-04  0.1696970D-01    -0.1105
                                                                           -59.0391

    Box-cox on (y)

  6 lambda(y)                0.6487288D-01 -0.3579117D-04  0.1577376D-01     4.1127
                                                                           -59.2837

    Residual (w)

  7 error variance           0.9821700D+01 -0.5329071D-14  0.4977008D+01     1.9734
                                                           0.4392279D+00    22.3613


LAMBDA TYPE SYMBOL:
 NL = NO LAMBDA
 FL = FIXED LAMBDA
 EL = ESTIMATED LAMBDA



Derivatives of y(sample), E(y), SIGMA(y) and GAMMA(y)
with respect to the Independent Variables at the sample means

    Variable    Der.y(sample)  Der.E(y)       Der.SIGMA(y)   Der.GAMMA(y)

  1 Ti          0.6648664D+02  0.1214820D+03  0.1317686D+03 -0.1210565D-05

  2 Tj          0.8178105D+02  0.1494274D+03  0.1620803D+03 -0.1489039D-05

  3 Util_BC4    0.1867615D+11  0.3412440D+11  0.3701391D+11 -0.3400485D+03

  4 constant    0.3194237D+08  0.5836397D+08  0.6330598D+08 -0.5815950D+00

MRS between two moments (E(y), SIGMA(y), GAMMA(y))
at the sample means
===============================================

row / col    E(y)        SIGMA(y)    GAMMA(y)  
===============================================

E(y)         0.1000D+01  0.9219D+00 -0.1004D+09

SIGMA(y)     0.1085D+01  0.1000D+01 -0.1088D+09

GAMMA(y)    -0.9965D-08 -0.9187D-08  0.1000D+01


Elasticity of substitution between two moments
(E(y), SIGMA(y), GAMMA(y)) at the sample means
===============================================

row / col    E(y)        SIGMA(y)    GAMMA(y)  
===============================================

E(y)         0.1000D+01  0.1096D+01 -0.8412D+01

SIGMA(y)     0.9120D+00  0.1000D+01 -0.7672D+01

GAMMA(y)    -0.1189D+00 -0.1303D+00  0.1000D+01


MRS of X(l) with respect to X(k) at the sample means
===================================================================================================================================
        X(k) Ti          Tj          Util_BC4    constant  
X(l)
===================================================================================================================================

Ti           0.1000D+01  0.1230D+01  0.2809D+09  0.4804D+06

Tj           0.8130D+00  0.1000D+01  0.2284D+09  0.3906D+06

Util_BC4     0.3560D-08  0.4379D-08  0.1000D+01  0.1710D-02

constant     0.2081D-05  0.2560D-05  0.5847D+03  0.1000D+01


Log-likelihood

    - initial value :    -18797.9086

    - final value   :    -17477.0499

    - ratio test    :      2641.7173


  Pearson-r2     :            0.2762

  Pearson-r2 bar :            0.2726

  Pseudo-(l)-r2     :         0.5749

  Pseudo-(l)-r2 bar :         0.5728

  Std-error of (w)  :         3.1340



  Number of observations    first-last obs.no.

    - sample     :   1000           1 -    1000

    - estimation :   1000           1 -    1000



CPU TIME:      0.25 sec
