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| Alghalith, Moawia. |
| This paper extends the existing estimation methods to allow estimation under simultaneous price and output uncertainty. In contrast with the previous literature, our approach is applicable to the direct and indirect utility functions and does not require specification and estimation of the production function. We derive estimating equations for the two most common forms of output risk (additive and multiplicative risks) and empirically determine which form is appropriate. Moreover, our estimation method can be utilized by future empirical studies in several ways. First, our method can be extended to include multiple sources of uncertainty. Second, it is applicable to other specifications of output uncertainty. Third, it can be used to conduct hypothesis... |
| Tipo: Journal Article |
Palavras-chave: Estimating equations; Output uncertainty; Price uncertainty; Utility; D8; D2. |
| Ano: 2005 |
URL: http://purl.umn.edu/37108 |
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| Grendar, Marian; Judge, George G.. |
| Methods, like Maximum Empirical Likelihood (MEL), that operate within the Empirical Estimating Equations (E3) approach to estimation and inference are challenged by the Empty Set Problem (ESP). We propose to return from E3 back to the Estimating Equations, and to use the Maximum Likelihood method. In the discrete case the Maximum Likelihood with Estimating Equations (MLEE) method avoids ESP. In the continuous case, how to make ML-EE operational is an open question. Instead of it, we propose a Patched Empirical Likelihood, and demonstrate that it avoids ESP. The methods enjoy, in general, the same asymptotic properties as MEL. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Maximum likelihood; Estimating equations; Empirical likelihood; Research Methods/ Statistical Methods. |
| Ano: 2010 |
URL: http://purl.umn.edu/56691 |
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