Being focused

dc.contributor.author	Behl, Peter
dc.contributor.author	Dette, Holger
dc.contributor.author	Frondel, Manuel
dc.contributor.author	Tauchmann, Harald
dc.date.accessioned	2011-07-04T12:12:08Z
dc.date.available	2011-07-04T12:12:08Z
dc.date.issued	2011-07-04
dc.description.abstract	In contrast to conventional model selection criteria, the Focused Information Criterion (FIC) allows for purpose-specific choice of models. This accommodates the idea that one kind of model might be highly appropriate for inferences on a particular parameter, but not for another. Ever since its development, 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 classical example and data for 35 U. S. industry sectors (1960-2005), this paper provides for an illustration of the FIC and a demonstration of its usefulness in empirical applications.	en
dc.identifier.uri	http://hdl.handle.net/2003/28900
dc.identifier.uri	http://dx.doi.org/10.17877/DE290R-1850
dc.language.iso	en	de
dc.relation.ispartofseries	Discussion Paper / SFB 823;22/2011	en
dc.subject	Cross-Price Elasticities	en
dc.subject	Information Criteria	en
dc.subject	Translog Cost Function	en
dc.subject.ddc	310
dc.subject.ddc	330
dc.subject.ddc	620
dc.title	Being focused	en
dc.title.alternative	When the purpose of inference matters for model selection	en
dc.type	Text	de
dc.type.publicationtype	workingPaper	de
dcterms.accessRights	open access

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