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Econometric Modelling based on Pattern recognition via the Fuzzy c-Means Clustering Algorithm

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Author Info
David E. A. Giles ()
Robert Draeseke

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Abstract

In this paper we consider the use of fuzzy modelling in the context of econometric analysis of both time-series and cross-section data. We discuss and demonstrate a semi-parametric methodology for model identification and estimation that is based on the Fuzzy c-Means algorithm that is widely used in the context of pattern recognition, and the Takagi-Sugeno approach to modelling fuzzy systems. This methodology is exceptionally flexible and provides a computationally tractable method of dealing with non-linear models in high dimensions. In this respect it has distinct theoretical advantages over non-parametric kernel regression, and we find that these advantages also hold empirically in terms of goodness-of-fit in a selection of economic applications.

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File URL: http://web.uvic.ca/econ/research/papers/ewp0101.pdf
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Publisher Info
Paper provided by Department of Economics, University of Victoria in its series Econometrics Working Papers with number 0101.

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Length: 50 pages
Date of creation: 19 Jan 2001
Date of revision:
Handle: RePEc:vic:vicewp:0101

Note: ISSN 1485-6441
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Postal: PO Box 1700, STN CSC, Victoria, BC, Canada, V8W 2Y2
Phone: (250)721-8540
Fax: (250)721-6214
Web page: http://web.uvic.ca/econ
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Related research
Keywords: Fuzzy logic; fuzzy sets; fuzzy c-means algorithm; pattern recognition; semi-parametric modelling; curse of dimensionality.;

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Find related papers by JEL classification:
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods
C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

References listed on IDEAS
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.:

  1. Hsing, Yu & Smyth, David J, 1994. "Kuznets's Inverted-U Hypothesis Revisited," Applied Economics Letters, Taylor and Francis Journals, vol. 1(7), pages 111-13, July. [Downloadable!] (restricted)
  2. Gregory Richardson, 1998. "The structure of fuzzy preferences: Social choice implications," Social Choice and Welfare, Springer, vol. 15(3), pages 359-369. [Downloadable!] (restricted)
  3. Finn E. Kydland & Edward C. Prescott, 1990. "Business cycles: real facts and a monetary myth," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 3-18. [Downloadable!]
  4. Murphy, Kevin M & Welch, Finis, 1990. "Empirical Age-Earnings Profiles," Journal of Labor Economics, University of Chicago Press, vol. 8(2), pages 202-29, April. [Downloadable!] (restricted)
  5. Robert Draeseke & David E. A. Giles, 1999. "A Fuzzy Logic Approach to Modelling the Underground Economy," Econometrics Working Papers 9909, Department of Economics, University of Victoria. [Downloadable!]
  6. Jozsef, Sandor & Korosi, Gabor & Matyas, Laszlo, 1992. "A possible new approach of panel modelling," Structural Change and Economic Dynamics, Elsevier, vol. 3(2), pages 357-374, December. [Downloadable!] (restricted)
  7. Coppejans, Mark, 2000. "Breaking the Curse of Dimensionality," Working Papers 00-13, Duke University, Department of Economics. [Downloadable!]
  8. Kunal Sengupta, 1999. "Choice rules with fuzzy preferences: Some characterizations," Social Choice and Welfare, Springer, vol. 16(2), pages 259-272. [Downloadable!] (restricted)
  9. Mark Coppejans, 2000. "Breaking the Curse of Dimensionality," Econometric Society World Congress 2000 Contributed Papers 0830, Econometric Society. [Downloadable!]
  10. Lindstrom, Tomas, 1998. "A fuzzy design of the willingness to invest in Sweden," Journal of Economic Behavior & Organization, Elsevier, vol. 36(1), pages 1-17, July. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Chad Stroomer & David E.A. Giles, 2003. "Income Convergence and trade Openness: Fuzzy Clustering and Time Series Evidence," Econometrics Working Papers 0304, Department of Economics, University of Victoria. [Downloadable!]
  2. David E. A. Giles & Carl Mosk, 2003. "Ruminant Eructation and a Long-Run Environmental Kuznets' Curve for Enteric Methane in New Zealand: Conventional and Fuzzy Regression Analysis," Econometrics Working Papers 0306, Department of Economics, University of Victoria. [Downloadable!]
  3. Giacomo Degli Antoni, 2007. "Do Social Relations Affect Economic Welfare? A Microeconomic Empirical Analysis," Working Papers 2007.32, Fondazione Eni Enrico Mattei. [Downloadable!]
  4. David E. A. Giles & Chad Stroomer, 2003. "Does Trade Openness Affect the Speed of Output Convergence? Some Empirical Evidence," Econometrics Working Papers 0307, Department of Economics, University of Victoria. [Downloadable!]
    Other versions:
  5. David E. Giles & Chad N. Stroomer, 2004. "Identifying the Cycle of a Macroeconomic Time-Series Using Fuzzy Filtering," Econometrics Working Papers 0406, Department of Economics, University of Victoria. [Downloadable!]
  6. Hui Feng & David E. Giles, 2007. "Bayesian Fuzzy Regression Analysis and Model Selection: Theory and Evidence," Econometrics Working Papers 0710, Department of Economics, University of Victoria. [Downloadable!]
    Other versions:
  7. Antonio Morillas & Bárbara Díaz, 2005. "Qualitative Answering Surveys And Soft Computing," GE, Growth, Math methods 0512002, EconWPA. [Downloadable!]
    Other versions:
  8. David E.A. Giles & Hui Feng, 2003. "Testing For Convergence in Output and in 'Well-Being' in Industrialized Countries," Econometrics Working Papers 0302, Department of Economics, University of Victoria. [Downloadable!]
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