Result: On the model selection criteria for demand system: Theil's minimum entropy measure and its modification
Title:
On the model selection criteria for demand system: Theil's minimum entropy measure and its modification
Authors:
Source:
Selected Papers of the MSSANZ/IMACS 13th Biennial Conference on Modelling and Simulation, Hamilton, New Zealand, December 1999Mathematics and computers in simulation. 59(1-3):171-177
Publisher Information:
Amsterdam: Elsevier, 2002.
Publication Year:
2002
Physical Description:
print, 6 ref
Original Material:
INIST-CNRS
Subject Terms:
Control theory, operational research, Automatique, recherche opérationnelle, Computer science, Informatique, Mathematics, Mathématiques, Mechanics acoustics, Mécanique et acoustique, Sciences exactes et technologie, Exact sciences and technology, Sciences et techniques communes, Sciences and techniques of general use, Mathematiques, Mathematics, Analyse numérique. Calcul scientifique, Numerical analysis. Scientific computation, Analyse numérique, Numerical analysis, Probabilités et statistiques numériques, Numerical methods in probability and statistics, Sciences appliquees, Applied sciences, Recherche operationnelle. Gestion, Operational research. Management science, Recherche opérationnelle et modèles formalisés de gestion, Operational research and scientific management, Généralités, General, Analyse numérique, Numerical analysis, Análisis numérico, Comportement consommateur, Consumer behavior, Comportamiento consumidor, Critère sélection, Selection criterion, Criterio selección, Entropie, Entropy, Entropía, Homogénéité, Homogeneity, Homogeneidad, Maximum vraisemblance, Maximum likelihood, Maxima verosimilitud, Mesure information, Information measure, Medida información, Méthode Monte Carlo, Monte Carlo method, Método Monte Carlo, Méthode statistique, Statistical method, Método estadístico, Méthode stochastique, Stochastic method, Método estocástico, Problème sélection, Selection problem, Problema selección, Simulation ordinateur, Computer simulation, Simulación computadora, Spécification modèle, Model specification, Especificación modelo, Symétrie, Symmetry, Simetría, Théorie contrainte, Constraint theory, 65C05, Imprécision information, Information inaccuracy, Système demand consommateur, Consumer demand system, Sélection modèle, Model selection
Document Type:
Conference
Conference Paper
File Description:
text
Language:
English
Author Affiliations:
Graduate School of Economics, Kobe University, Rokkodai Nada, Kobe 657-8501, Japan
Graduate School of Economics, Osaka University, Machikaneyama, Toyonaka 560-0043, Japan
Graduate School of Economics, Osaka University, Machikaneyama, Toyonaka 560-0043, Japan
ISSN:
0378-4754
Rights:
Copyright 2002 INIST-CNRS
CC BY 4.0
Sauf mention contraire ci-dessus, le contenu de cette notice bibliographique peut être utilisé dans le cadre d’une licence CC BY 4.0 Inist-CNRS / Unless otherwise stated above, the content of this bibliographic record may be used under a CC BY 4.0 licence by Inist-CNRS / A menos que se haya señalado antes, el contenido de este registro bibliográfico puede ser utilizado al amparo de una licencia CC BY 4.0 Inist-CNRS
CC BY 4.0
Sauf mention contraire ci-dessus, le contenu de cette notice bibliographique peut être utilisé dans le cadre d’une licence CC BY 4.0 Inist-CNRS / Unless otherwise stated above, the content of this bibliographic record may be used under a CC BY 4.0 licence by Inist-CNRS / A menos que se haya señalado antes, el contenido de este registro bibliográfico puede ser utilizado al amparo de una licencia CC BY 4.0 Inist-CNRS
Notes:
Mathematics
Operational research. Management
Operational research. Management
Accession Number:
edscal.13646994
Database:
PASCAL Archive
Further Information
Several models are proposed for analyzing consumer demand systems. Empirical researchers usually, adopt one or more models and test some constraints based on demand theory, and then evaluate the plausibility of the models. However, they rarely adopt a statistical model selection procedure in their evaluation. The main reason is that the dependent variables are different in each model. Theil's minimum entropy measure is a candidate for a practical model selection procedure, but its performance has not been studied carefully and sufficiently. In this paper, we conduct a Monte Carlo simulation to ascertain its performance. Simulation results show that the criteria based upon entropy do not perform well. We propose a two-step selection procedure, utilizing the criteria. This procedure performs better.