Encompassing: Practical Applications Through Simulation
2025年8月 · MIT Press
電子書
142
頁
family_home
符合資格
info
report評分和評論未經驗證 瞭解詳情
關於本電子書
An operational simulation-based implementation of a fundamental research principle in the sciences—the idea that a model must account for, or encompass, findings of alternative models.
To account for the universal deficiency of all economic models, Jean-François Richard, Robert Marshall, and Chaohai Shen propose in this book an operational test of whether a model accounts for—or encompasses—key results of alternative models. This simulation-based approach is distinct from the likelihood-based approach of forty-plus years ago. It is specifically designed to be applicable to serious nonlinear applications, under the minimal requirement that the models under consideration be amenable to Monte Carlo simulations.
The method of simulated moments, increasingly applied in major empirical applications, provides the ideal framework to compute a wide range of formal simulation-based encompassing test statistics. The authors argue that simulation-based encompassing is particularly easy to implement when the model of interest incorporates novel features relative to an earlier “benchmark” model: that is, “nests” the latter.
The book should be of particular interest to practitioners, researchers, and graduate students who wish to validate their models using simulation-based encompassing as a rigorous scientific alternative to more informal model comparisons.
To account for the universal deficiency of all economic models, Jean-François Richard, Robert Marshall, and Chaohai Shen propose in this book an operational test of whether a model accounts for—or encompasses—key results of alternative models. This simulation-based approach is distinct from the likelihood-based approach of forty-plus years ago. It is specifically designed to be applicable to serious nonlinear applications, under the minimal requirement that the models under consideration be amenable to Monte Carlo simulations.
The method of simulated moments, increasingly applied in major empirical applications, provides the ideal framework to compute a wide range of formal simulation-based encompassing test statistics. The authors argue that simulation-based encompassing is particularly easy to implement when the model of interest incorporates novel features relative to an earlier “benchmark” model: that is, “nests” the latter.
The book should be of particular interest to practitioners, researchers, and graduate students who wish to validate their models using simulation-based encompassing as a rigorous scientific alternative to more informal model comparisons.
關於作者
Jean-François Richard is a Belgian-American economist and Distinguished Professor of Economics at the University of Pittsburgh. He has been awarded the Prix des Alumni de la Fondation Universitaire, is a Fellow of the Econometric Society, and has published more than ninety articles and two books on a broad range of econometrics topics.
Robert C. Marshall is Distinguished Professor of Economics at Penn State University. He has published over thirty articles regarding bidder collusion and cartels and is the author, with Leslie M. Marx, of Economics of Collusion (MIT Press).
Chaohai Shen is Associate Professor of Economics at East China Normal University. His areas of research include economics of collusion, industrial organization, and applied econometrics.
Robert C. Marshall is Distinguished Professor of Economics at Penn State University. He has published over thirty articles regarding bidder collusion and cartels and is the author, with Leslie M. Marx, of Economics of Collusion (MIT Press).
Chaohai Shen is Associate Professor of Economics at East China Normal University. His areas of research include economics of collusion, industrial organization, and applied econometrics.
為這本電子書評分
歡迎提供意見。
閱讀資訊
智慧型手機與平板電腦
筆記型電腦和電腦
你可以使用電腦的網路瀏覽器聆聽你在 Google Play 購買的有聲書。
電子書閱讀器與其他裝置
如要在 Kobo 電子閱讀器這類電子書裝置上閱覽書籍，必須將檔案下載並傳輸到該裝置上。請按照說明中心的詳細操作說明，將檔案傳輸到支援的電子閱讀器上。
