Expect diminishing returns in the effects

Reference no: EM133630139

Question: Suppose that, given your domain knowledge about a certain problem, you expect diminishing returns in the effects of x on y, i.e., when x is small, a unit change in x is associated with a larger change in y than when x is larger. You do not expect negative returns (where the slope becomes negative), and both x and y take only positive values. What do you suggest doing before estimating a linear regression model

Reference no: EM133630139

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