1. IDENTIFICATION: IT'S PERFORMANCE THAT COUNTS.
- Author
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Patton, R.A. and Kerry Smith, V.
- Subjects
MONTE Carlo method ,NUMERICAL analysis ,SYSTEM identification ,DECISION theory ,DECISION making - Abstract
This paper discusses two different forms of identifying restrictions and compares them in a Monte Carlo framework. A similar analysis is performed to illuminate how the identification procedures affect problems of mis-specification. It is found that, using ordinary least squares as the estimating technique, the two types of identification perform much differently and thus they should not be confused. Similar results hold in the mis-specification case. [ABSTRACT FROM AUTHOR]
- Published
- 1972
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