Volatile pies: Modeling compositional volatility

Abbie Eastman, Andrea Junqueira, Ali Kagalwala, Andrew Q. Philips and Guy D. Whitten

Social Science Quarterly, 2024, vol. 105, issue 4, 965-979

Abstract: Objective The study aims to demonstrate the utility of modeling compositional volatility in substantive domains beyond budgeting. Methods We show how to model compositional volatility on its own or as a part of a system of equations in which the component parts of the compositional outcome variable are also modeled. Results Using data on the volatility of support for German political parties, we demonstrate the usefulness of stand‐alone models of compositional volatility. Using data on the volatility of income shares in the United States, we demonstrate the usefulness of modeling volatility together with compositional components. Conclusion There is considerable potential for modeling compositional volatility.

Date: 2024
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