Choice is Suffering: A Focused Information Criterion for Model Selection Activation Program for Disadvantaged Youths
AbstractIn 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 invention, 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 provides for a didactic illustration of the FIC and shows its usefulness in economic applications.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen in its series Ruhr Economic Papers with number 0250.
Length: 15 pages
Date of creation: Apr 2011
Date of revision:
Find related papers by JEL classification:
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
- D2 - Microeconomics - - Production and Organizations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-18 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Frondel, Manuel & Schmidt, Christoph M., 2001.
"Rejecting Capital-Skill Complementarity at all Costs,"
IZA Discussion Papers
316, Institute for the Study of Labor (IZA).
- Frondel, Manuel & Schmidt, Christoph M., 2003. "Rejecting capital-skill complementarity at all costs," Economics Letters, Elsevier, vol. 80(1), pages 15-21, July.
- Frondel, Manuel & Schmidt, Christoph M., 2001. "Rejecting capital-skill complementarity at all costs," ZEW Discussion Papers 01-27, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Holger Dette & Mark Podolskij & Mathias Vetter, 2006.
"Estimation of Integrated Volatility in Continuous-Time Financial Models with Applications to Goodness-of-Fit Testing,"
Scandinavian Journal of Statistics,
Danish Society for Theoretical Statistics & Finnish Statistical Society & Norwegian Statistical Association & Swedish Statistical Association, vol. 33(2), pages 259-278.
- Vetter, Mathias & Podolskij, Mark & Dette, Holger, 2004. "Estimation of integrated volatility in continuous time financial models with applications to goodness-of-fit testing," Technical Reports 2004,32, Technische Universität Dortmund, Sonderforschungsbereich 475: Komplexitätsreduktion in multivariaten Datenstrukturen.
- Manuel Frondel & Christoph M. Schmidt, 2002. "The Capital-Energy Controversy: An Artifact of Cost Shares?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 53-79.
- Dette, Holger & Podolskij, Mark, 2008. "Testing the parametric form of the volatility in continuous time diffusion models--a stochastic process approach," Journal of Econometrics, Elsevier, vol. 143(1), pages 56-73, March.
- Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, January.
- Manuel Frondel & Christoph M. Schmidt, 2006.
"The Empirical Assessment of Technology Differences: Comparing the Comparable,"
The Review of Economics and Statistics,
MIT Press, vol. 88(1), pages 186-192, February.
- Schmidt, Christoph M. & Frondel, Manuel, 2002. "The empirical assessment of technology differences: comparing the comparable," ZEW Discussion Papers 02-63, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sabine Weiler).
If references are entirely missing, you can add them using this form.