New coefficients of econometrics models quality estimation
AbstractAdvantages and disadvantages of existing coefficient of determination and mean absolute percentage error are examined, and two new coefficients (the compliance coefficient and the balance coefficient) giving new information about the approximation properties of econometrics models, are proposed.
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Bibliographic InfoArticle provided by Publishing House "SINERGIA PRESS" in its journal Applied Econometrics.
Volume (Year): 24 (2011)
Issue (Month): 4 ()
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Web page: http://appliedeconometrics.cemi.rssi.ru/
econometrics models quality estimation; approximation error; determination coefficient; complex variables; compliance coefficient; balance coefficient;
Find related papers by JEL classification:
- C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
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