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Simulating Multivariate Distributions with Sparse Data: A Kernal Density Smoothing Procedure

Author

Listed:
  • Lien, Gudbrand D.
  • Hardaker, J. Brian
  • Richardson, James W.

Abstract

Often analysts must conduct risk analysis based on a small number of observations. This paper describes and illustrates the use of a kernel density estimation procedure to smooth out irregularities in such a sparse data set for simulating univariate and multivariate probability distributions.

Suggested Citation

  • Lien, Gudbrand D. & Hardaker, J. Brian & Richardson, James W., 2006. "Simulating Multivariate Distributions with Sparse Data: A Kernal Density Smoothing Procedure," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25449, International Association of Agricultural Economists.
  • Handle: RePEc:ags:iaae06:25449
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    File URL: http://purl.umn.edu/25449
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    References listed on IDEAS

    as
    1. Hardaker, J. Brian & Lien, Gudbrand D., 2005. "Towards some principles of good practice for decision analysis in agriculture," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia 137925, Australian Agricultural and Resource Economics Society.
    2. Alan P. Ker & Keith Coble, 2003. "Modeling Conditional Yield Densities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(2), pages 291-304.
    3. Richardson, James W. & Klose, Steven L. & Gray, Allan W., 2000. "An Applied Procedure For Estimating And Simulating Multivariate Empirical (Mve) Probability Distributions In Farm-Level Risk Assessment And Policy Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(02), August.
    4. King, Robert P., 1979. "Operational Techniques for Applied Decision Analysis Under Uncertainty," AAEA Fellows - Dissertations and Theses, Agricultural and Applied Economics Association, number 181951.
    5. repec:ags:joaaec:v:32:y:2000:i:2:p:299-315 is not listed on IDEAS
    6. Anderson, Jock R. & Feder, Gershon, 2007. "Agricultural Extension," Handbook of Agricultural Economics, Elsevier.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Hardaker, J. Brian & Lien, Gudbrand, 2010. "Probabilities for decision analysis in agriculture and rural resource economics: The need for a paradigm change," Agricultural Systems, Elsevier, vol. 103(6), pages 345-350, July.
    2. Lien, Gudbrand & Hardaker, J. Brian & Asseldonk, Marcel A.P.M. van & Richardson, James W., 2009. "Risk programming and sparse data: how to get more reliable results," Agricultural Systems, Elsevier, vol. 101(1-2), pages 42-48, June.
    3. repec:eee:ecolec:v:141:y:2017:i:c:p:144-153 is not listed on IDEAS
    4. Hardaker, J. Brian & Lien, Gudbrand D., 2007. "Rationalising Risk Assessment: Applications to Agricultural Business," Australasian Agribusiness Review, University of Melbourne, Melbourne School of Land and Environment, vol. 15.

    More about this item

    Keywords

    stochastic simulation; smoothing; multivariate kernel estimator; Parzen; Research Methods/ Statistical Methods; Q12; C8;

    JEL classification:

    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

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