I came across this equation when I was reading the article: $$\textrm{Y} = \alpha + \textrm{X}_1 (\beta_0 + \beta_1 \textrm{X}_2 + \beta_2 \textrm{X}_3) + \varepsilon$$
At least, I can understand the latter two variables in the parenthesis: both $\textrm{X}_2$ and $\textrm{X}_3$ affect $\textrm{Y}$ with $\textrm{X}_1$.
However, there are several things do not make sense to me:
- How can I interpret $\textrm{X}_1 * \beta_0$? Is it fine to say constant affects $\textrm{Y}$ with $\textrm{X}_1$?
- When we use interaction term, don't we have to include the variables with no interaction? Shouldn't be the equation like this? $$\textrm{Y} = \alpha + \textrm{X}_1 (\beta_0 + \beta_1 \textrm{X}_2 + \beta_2 \textrm{X}_3) + \beta_3 + \beta_4 \textrm{X}_2 + \beta_5 \textrm{X}_3 + \varepsilon$$