Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Decision sciences
5 (1974), S. 0
ISSN:
1540-5915
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
In this paper a Monte Carlo sampling study consisting of four experiments is described. Two error distributions were employed, the normal and the Laplace; and two small sample sizes (20 and 40) were tested. The question of simultaneous-equation bias called for two-stage estimators. The L1, norm was employed as a means of comparing the performance of the L1 or least squares estimators. A relatively new algorithm for computing the direct least absolute (DLA) and two-stage least absolute (TSLA) estimators was employed for the experiments. The results confirmed the hypotheses that for non-normal error distributions such as the Laplace the least absolute estimators were better.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1540-5915.1974.tb00591.x
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