Choice is Suffering: A Focused Information Criterion for Model Selection
Behl P, Dette H, Frondel M, Tauchmann H (2012)
Publication Language: English
Publication Type: Journal article
Publication year: 2012
Journal
Publisher: Elsevier
Book Volume: 29
Pages Range: 817-822
Journal Issue: 3
DOI: 10.1016/j.econmod.2011.09.002
Abstract
In 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 demonstrates its usefulness in economic applications. © 2011 Elsevier B.V.
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APA:
Behl, P., Dette, H., Frondel, M., & Tauchmann, H. (2012). Choice is Suffering: A Focused Information Criterion for Model Selection. Economic Modelling, 29(3), 817-822. https://doi.org/10.1016/j.econmod.2011.09.002
MLA:
Behl, Peter, et al. "Choice is Suffering: A Focused Information Criterion for Model Selection." Economic Modelling 29.3 (2012): 817-822.
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