Better confidence intervals: The double bootstrap with no pivot

David Letson, B. D. McCullough

Research output: Contribution to journalArticle

11 Citations (Scopus)

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 languageEnglish (US)
Pages (from-to)552-559
Number of pages8
JournalAmerican Journal of Agricultural Economics
Volume80
Issue number3
StatePublished - Aug 1998
Externally publishedYes

Fingerprint

elasticity of substitution
Elasticity
confidence interval
Confidence Intervals
Confidence interval
Bootstrap

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 journalArticle

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