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combination of matrix decomposition, classical non-linear estimation techniques as well as bootstrapping based resampling. The …
Persistent link: https://www.econbiz.de/10005454134
The authors examine the small sample properties and forecasting performance of estimators In models using the Box-Cox transformation via a Monte Carlo experiment They develop a simple,estimator for the expected value of the untransformed dependent variable They show that the sign and magnitude...
Persistent link: https://www.econbiz.de/10010919321
The availability of efficiency estimation software freely distributed via the internet and relatively easy to use recently inflated the number of corresponding applications. The resulting efficiency estimates are often used without a critical assessment with respect to the literature on...
Persistent link: https://www.econbiz.de/10005039031
The availability of efficiency estimation software – freely distributed via the internet and relatively easy to use – recently inflated the number of corresponding applications. The resulting efficiency estimates are used without a critical assessment with respect to the literature on...
Persistent link: https://www.econbiz.de/10005668908
The paper brings a survey of flexible functional forms and summarizes the theoretical properties of several economic functional types (indirect utility, cost, expenditure function and the appropriate input demand systems). The notions of flexibility of the functional fonn (relating to the...
Persistent link: https://www.econbiz.de/10008528799
Persistent link: https://www.econbiz.de/10008578014
In this paper we estimate the flexibility properties and regular regions for the first three orders of the seminonparametric Asymptotically Ideal Model (AIM) under four different types of constant returns to scale production technologies. The AIM model's parameters are estimatedfrom a Monte...
Persistent link: https://www.econbiz.de/10005511951
McCausland (2004a) describes a new theory of random consumer demand. Theoretically consistent random demand can be represented by a "regular" "L-utility" function on the consumption set X. The present paper is about Bayesian inference for regular L-utility functions. We express prior and...
Persistent link: https://www.econbiz.de/10005545594
This paper reports the results of three experiments on the neoclassical theory of consumer behavior. All these experiments were performed with the aim to simulate as closely as possible the behavior of consumers in the real world. Real goods, real money and the same incentives as in the real...
Persistent link: https://www.econbiz.de/10005481798
In this paper we compare classical econometrics, calibration and Bayesian inference in the context of the empirical analysis of factor demands. Our application is based on a popular flexible functional form for the firm's cost function, namely Diewert's Generalized Leontief function, and uses...
Persistent link: https://www.econbiz.de/10005484877