Standard econometric model selection methods are based on four conceptual errors: parametric vision, the assumption of a true data generating process, evaluation based on fit, and ignoring the impact ...

Econometric model building for forecasting has developed substantially over the past 15 years. Nevertheless, operational researchers have neglected these new developments. This paper defines nine ...

Research from all publishers Recent advances in econometric research have focused on refining estimation techniques to address issues such as model misspecification and data non-normality.

Hedonic pricing is a model that identifies price factors according to the premise that price is determined both by internal characteristics of the good being sold and external factors affecting it.