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Whimsical aggregation of temporal data, market identification, and fragile results
Author(s) -
Blank Steven C.,
Schmiesing Brian H.
Publication year - 1990
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/1520-6297(199001)6:1<33::aid-agr2720060104>3.0.co;2-e
Subject(s) - robustness (evolution) , identification (biology) , econometrics , economics , empirical research , agribusiness , commodity , empirical evidence , market data , data aggregator , financial economics , computer science , finance , agriculture , chemistry , botany , philosophy , wireless sensor network , ecology , computer network , biochemistry , epistemology , gene , biology
One of the most common problems faced by analysts of agribusiness markets is that available data are aggregated to a degree that obscures the underlying decision process. This article reminds analysts of the implications of temporal data aggregation for market identification and its effects on the robustness of empirical results. Also, three major commodity market price series are analyzed to demonstrate how aggregation can affect empirical results. Finally, guidelines are suggested for selecting the appropriate level of aggregation for empirical problems.