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Stochastic Efficiency, Normality, and Sampling Errors in Agricultural Risk Analysis
Author(s) -
Pope Rulon D.,
Ziemer Rod F.
Publication year - 1984
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1240613
Subject(s) - statistics , estimator , econometrics , mathematics , normality , sample size determination , sample (material) , ranking (information retrieval) , probability distribution , sampling (signal processing) , computer science , physics , filter (signal processing) , computer vision , machine learning , thermodynamics
This paper examines the power of tests for efficiency. The relationship between sample size, parameter values, and the family of probability distributions is stressed. Some findings are that the probability of correctly ranking distributions is frequently very low regardless of sample size. It is generally lowest as distributional parameters (such as the means) of the two distributions being compared are of similar magnitudes. Further, the empirical distribution function performs extremely well as compared to maximum likelihood estimators.