Choice is suffering

dc.contributor.author	Behl, Peter
dc.contributor.author	Dette, Holger
dc.contributor.author	Frondel, Manuel
dc.contributor.author	Tauchmann, Harald
dc.date.accessioned	2010-10-27T11:32:01Z
dc.date.available	2010-10-27T11:32:01Z
dc.date.issued	2010-10-27
dc.description.abstract	In contrast to conventional measures, the Focused Information Criterion (FIC) allows the purpose-specific selection of models, thereby reflecting the idea that one kind of model might be appropriate for inferences on a parameter of interest, but not for another. Ever since its introduction, the FIC has been increasingly applied in the realm of statistics, but this concept appears to be virtually unknown in the economic literature. Using a straightforward analytical example, this paper illustrates the FIC and its usefulness in economic applications. JEL classification: C3, D2	en
dc.identifier.uri	http://hdl.handle.net/2003/27438
dc.identifier.uri	http://dx.doi.org/10.17877/DE290R-15657
dc.language.iso	en	en
dc.relation.ispartofseries	Discussion Paper / SFB 823;42/2010
dc.subject	AKAIKE Information Criterion	en
dc.subject	SCHWARZ Information Criterion	en
dc.subject	Translog Cost Function	en
dc.subject.ddc	310
dc.subject.ddc	330
dc.subject.ddc	620
dc.title	Choice is suffering	en
dc.title.alternative	a focused information criterion for model selection	en
dc.type	Text	de
dc.type.publicationtype	workingPaper	de
dcterms.accessRights	open access

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