A number of studies have applied non-market valuation techniques to measure the value of cultural goods. Virtually all of these studies are single case applications and rely mostly on stated preferences, such as contingent valuation techniques. We compare the relative value of multiple,...

We show that the effects of overfitting and underfitting a vector autoregressive (VAR) model are strongly asymmetric for VAR summary statistics involving higher-order dynamics (such as impulse response functions, variance decompositions, or long-run forecasts) . Underfit models often...