Abstract
The double bootstrap is an important advance in confidence interval generation because it converges faster than the already popular single bootstrap. Yet the usual double bootstrap requires a stable pivot that is not always available, e.g., when estimating flexibilities or substitution elasticities. A recently developed double bootstrap does not require a pivot. A Monte Carlo analysis with the Waugh data finds the double bootstrap achieves nominal coverage whereas the single bootstrap does not. A useful artifice dramatically decreases the computational time of the double bootstrap.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 552-559 |
| Number of pages | 8 |
| Journal | American Journal of Agricultural Economics |
| Volume | 80 |
| Issue number | 3 |
| State | Published - Aug 1998 |
| Externally published | Yes |
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Keywords
- Confidence interval
- Convergence
- Elasticity
- Flexibility
- Iterated bootstrap
- Pivot
ASJC Scopus subject areas
- Agricultural and Biological Sciences (miscellaneous)
- Economics and Econometrics
Cite this
Better confidence intervals : The double bootstrap with no pivot. / Letson, David; McCullough, B. D.
In: American Journal of Agricultural Economics, Vol. 80, No. 3, 08.1998, p. 552-559.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Better confidence intervals
T2 - The double bootstrap with no pivot
AU - Letson, David
AU - McCullough, B. D.
PY - 1998/8
Y1 - 1998/8
N2 - The double bootstrap is an important advance in confidence interval generation because it converges faster than the already popular single bootstrap. Yet the usual double bootstrap requires a stable pivot that is not always available, e.g., when estimating flexibilities or substitution elasticities. A recently developed double bootstrap does not require a pivot. A Monte Carlo analysis with the Waugh data finds the double bootstrap achieves nominal coverage whereas the single bootstrap does not. A useful artifice dramatically decreases the computational time of the double bootstrap.
AB - The double bootstrap is an important advance in confidence interval generation because it converges faster than the already popular single bootstrap. Yet the usual double bootstrap requires a stable pivot that is not always available, e.g., when estimating flexibilities or substitution elasticities. A recently developed double bootstrap does not require a pivot. A Monte Carlo analysis with the Waugh data finds the double bootstrap achieves nominal coverage whereas the single bootstrap does not. A useful artifice dramatically decreases the computational time of the double bootstrap.
KW - Confidence interval
KW - Convergence
KW - Elasticity
KW - Flexibility
KW - Iterated bootstrap
KW - Pivot
UR - http://www.scopus.com/inward/record.url?scp=0039109521&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=0039109521&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:0039109521
VL - 80
SP - 552
EP - 559
JO - American Journal of Agricultural Economics
JF - American Journal of Agricultural Economics
SN - 0002-9092
IS - 3
ER -