@article{Acquah:148098,
      recid = {148098},
      author = {Acquah, H. de-Graft},
      title = {On the Comparison of Akaike Information Criterion and  Consistent Akaike Information Criterion in Selection of an  Asymmetric Price Relationship: Bootstrap Simulation  Results},
      journal = {AGRIS on-line Papers in Economics and Informatics},
      address = {2013-03-30},
      number = {665-2016-44988},
      series = {2013},
      pages = {7},
      month = {Mar},
      year = {2013},
      abstract = {Akaike’s Information Criteria provide a basis for choosing  between competing approaches to testing for
price  asymmetry. However, very little research has been  undertaken to understand its performance in
the price  transmission modelling context. In addressing this issue,  this paper introduces and applies parametric
bootstrap  techniques to evaluate the ability of Akaike Information  Criteria (AIC) and Consistent Akaike
Information Criteria  (CAIC) in distinguishing between competing asymmetric price  transmission models
under various error and sample size  conditions. Bootstrap simulation results suggest that the  performance
of the model selection methods depends on  sample size and stochastic variance. The Bootstrap  simulations
further indicate that CAIC is consistent and  performs better than the AIC in large bootstrap  samples.
The ability of the model selection methods to  identify the true asymmetric price relationship decreases  with
increase in stochastic variance. The research findings  demonstrate the usefulness of Bootstrap algorithms
in price  transmission model comparison and selection.},
      url = {http://ageconsearch.umn.edu/record/148098},
      doi = {https://doi.org/10.22004/ag.econ.148098},
}