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-generation process, the least-squares estimators have smaller bias (in fact zero bias) but larger variances in the long regression than … in the short regression. But if the long regression is also misspecified, the bias may not be smaller. We provide bias …
Persistent link: https://www.econbiz.de/10010532602
We develop a general framework for measuring biases in expectation formation. The method is based on the insight that biases can be inferred from the response of forecast errors to past news. Empirically, biases are measured by flexibly estimating the impulse response function of forecast...
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We propose a first order bias correction term for the Gini index to reduce the bias due to grouping. The first order … reveals an intuitive formula for the remaining second order bias which is useful in empirical analyses. We analyze the … it reduces a considerable share of the bias due to grouping. …
Persistent link: https://www.econbiz.de/10011377108
created by Monte Carlo simulation to test, in a controlled environment, the effects of the different possible sources of bias … utilities is negative, then the bias in the MNL estimate is negative, whereas if the correlation is positive the bias is …
Persistent link: https://www.econbiz.de/10011379636
largely due to a bias induced by the aggregation of skill types into broad categories. An assignment model is applied where … the bias. Estimation results for the United States show elasticities of complementarity to be underestimated by up to a …
Persistent link: https://www.econbiz.de/10011299960
This paper investigates an implication of the self-serving bias for reciprocalresponses. It is hypothesized that … with the explanation offered by the self-serving bias. …
Persistent link: https://www.econbiz.de/10011300547