In der Ökonomie ist die Kenntnis des monetarisierten Werts von öffentlichen Gütern wie Sicherheit oder sauberer Luft wichtig, um eine Datenbasis für politische Entscheidungen zu haben. Diese Arbeit entwickelt ein ökonometrisches Modell um aus Umfragedaten diese Zahlungsbereitschaft...

This paper offers two innovations for empirical growth research. First, the paper discusses principal components augmented regressions to take into account all available information in well-behaved regressions. Second, the paper proposes a frequentist model averaging framework as an alternative...

Bayesian Model Averaging (BMA) is a common econometric tool to assess the uncertainty regarding model specification and parameter inference and is widely applied in fields where no strong theoretical guidelines are present. Its major advantage over single-equation models is the combination of...

"By moving away from flawed statistical methodologies, you'll move toward an intuitive view of probability as a mathematically rigorous statistical framework that quantifies uncertainty holistically and successfully. This book shows you how."