More Phantom Than Menace1

Kevin A. Clarke

Conflict Management and Peace Science, 2012, vol. 29, issue 2, 239-241

Abstract: In this article, I address whether the inclusion of control variables in the hopes of getting an unbiased estimate of the residual variance is a good reason for the inclusion of control variables. I conclude that the inclusion of an additional control variable is unlikely to decrease the estimated standard errors and that the tradeoffs involved with including a new control variable are simply too large.

Keywords: control variables; model specification; omitted variable bias (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:compsc:v:29:y:2012:i:2:p:239-241

DOI: 10.1177/0738894211433170

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