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The Statistical Theory of Industrial Systems
Khodusov, Valery; Pihnastyi, Oleh; Mikhailenko, V.; … - 2021
Modelling complex economic systems is an effective method of research. The widespread class is formed by economic systems in which the determined character of observable processes is combined with their stochastic nature. Laws which are observed in systems of economic exchange, in many respects...
Persistent link: https://www.econbiz.de/10013229439
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Statistics and common sense
Hanaki, Nobuyuki; Magnus, Jan R.; Yoo, Donghoon - 2021
Common sense is a dynamic concept and it is natural that our (statistical) common sense lags behind the development of statistical science. What is not so easy to understand is why common sense lags behind as much as it does. We conduct a survey among Japanese students and try to understand why...
Persistent link: https://www.econbiz.de/10012795343
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Statistical Inference in Economics, 1920-1965 : Changes in Meaning and Practice
Biddle, Jeff - 2016
probability theory as a source of measures and procedures to be used in statistical inference. Haavelmo and the econometricians … from probability theory, but the arguments they offered in defense of this approach were not always responsive to the … from probability theory were an almost essential part of empirical research in economics. I close the paper with some …
Persistent link: https://www.econbiz.de/10012987278
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Statistics and common sense
Hanaki, Nobuyuki; Magnus, Jan R.; Yoo, Donghoon - 2021
Common sense is a dynamic concept and it is natural that our (statistical) common sense lags behind the development of statistical science. What is not so easy to understand is why common sense lags behind as much as it does. We conduct a survey among Japanese students and try to understand why...
Persistent link: https://www.econbiz.de/10012670776
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Using large samples in econometrics
MacKinnon, James G. - 2021
As I document using evidence from a journal data repository that I manage, the datasets used in empirical work are getting larger. When we use very large datasets, it can be dangerous to rely on standard methods for statistical inference. In addition, we need to worry about computational issues....
Persistent link: https://www.econbiz.de/10012815681
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A Powerful and Robust Nonparametric Statistic for Joint Mean-Variance Quality Control
Opdyke, J.D. - 2010
For statistical process control, a number of single charts that jointly monitor both process mean and variability recently have been developed. For quality control-related hypothesis testing, however, there has been little analogous development of joint mean-variance tests: only one two-sample...
Persistent link: https://www.econbiz.de/10013136795
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Introducing Linear Regression : An Example Using Basketball Statistics
Arnold, Tom - 2011
The intuition behind linear regression can be difficult for students to grasp particularly without a readily accessible context. This paper uses basketball statistics to demonstrate the purpose of linear regression and to explain how to interpret its results. In particular, the student will...
Persistent link: https://www.econbiz.de/10013131742
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Breakthrough Technology to Resolve Problems in Annuities Hedging
Izmailov, Alexander - 2016
Hedging of illiquid financial instruments is carried out with liquid instruments that, as a rule, have simpler payoff functions. For example, hedging of Asian or long-dated put options is carried out with vanilla puts, hedging of Bermuda swaptions is done with vanilla swaptions, etc. This kind...
Persistent link: https://www.econbiz.de/10013000625
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Unit roots, change, and decision bounds
Kunst, Robert M. - 1998
The problem of optimal decision among unit roots, trend stationarity, and trend stationarity with structural breaks is considered. Each class is represented by a hierarchically random process whose parameters are distributed in a non-informative way. The prior frequency for all three processes...
Persistent link: https://www.econbiz.de/10009711656
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Bayesian Comparative Statics
Mekonnen, Teddy - 2020
We study how changes to the informativeness of signals in Bayesian games and single-agent decision problems affect the distribution of equilibrium actions. A more precise private signal about an unknown state of the world leads to an mean-preserving spread of an agent's beliefs. Focusing on...
Persistent link: https://www.econbiz.de/10012851657