000267403 001__ 267403
000267403 005__ 20180131174110.0
000267403 037__ $$a2012-2018-552
000267403 041__ $$aeng
000267403 245__ $$aComments on Testing Economic Theories and the Use of Model Selection Criteria
000267403 260__ $$c1992
000267403 269__ $$a1992-12-01
000267403 300__ $$a34
000267403 336__ $$aWorking or Discussion Paper
000267403 490__ $$aWorking Paper No. 17/92
000267403 520__ $$aThis paper outlines several difficulties with testing economic theories, particularly that the theories may be vague, may relate to a decision interval different from the observation period and may need construction of a metric to convert a complicated testing situation to an easier one. We argue that it is better to use model selection procedures rather than formal hypothesis testing when asking the data to decide on model specification. This is because testing favors the null hypothesis, typically uses an arbitrary choice of significance level and researchers working with the same data could easily end up with different final models, which would make policy recommendations difficult.
000267403 542__ $$fBy depositing this Content ('Content') in AgEcon Search, I agree that  I am solely responsible for any consequences of uploading this Content to AgEcon Search and making it publicly available, and I represent and warrant that: I am either the sole creator and the owner of the copyrights and all other rights in the Content; or, without obtaining another’s permission, I have the right to deposit the Content in an archive such as AgEcon Search. To the extent that any portions of the Content are not my own creation, they are used with the copyright holder’s express permission or as permitted by law. Additionally, the Content does not infringe the copyrights or other intellectual property rights of another, nor does the Content violate any laws or another’s rights of privacy or publicity. The Content contains no restricted, private, confidential, or otherwise protected data or information that should not be publicly shared. I understand that AgEcon Search will do its best to provide perpetual access to my Content. In order to support these efforts, I grant the Regents of the University of Minnesota ('University'), through AgEcon Search, the following non-exclusive, irrevocable, royalty-free, world-wide rights and licenses: to access, reproduce, distribute and publicly display the Content, in whole or in part, in order to secure, preserve and make it publicly available, and to make derivative works based upon the Content in order to migrate the Content to other media or formats, or to preserve its public access. These terms do not transfer ownership of the copyright(s) in the Content. These terms only grant to the University the limited license outlined above.
000267403 546__ $$aEnglish
000267403 650__ $$aResearch Methods/ Statistical Methods
000267403 700__ $$aGranger, Clive
000267403 700__ $$aKing, Maxwell L.
000267403 700__ $$aWhite, Halbert
000267403 8560_ $$fgoett110@umn.edu
000267403 8564_ $$s2243964$$uhttp://ageconsearch.umn.edu/record/267403/files/monash-147.pdf
000267403 8564_ $$s4498421$$uhttp://ageconsearch.umn.edu/record/267403/files/monash-147.pdf?subformat=pdfa$$xpdfa
000267403 909CO $$ooai:ageconsearch.umn.edu:267403$$pGLOBAL_SET
000267403 980__ $$a2012