Aggregation, Heterogeneity and Risk: Adding Apples and Oranges, or Apples and Apples

Rulon Pope

No 271538, 1990 Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk Meeting, January 28-31, 1990, Sanibel Island, Florida from Regional Research Projects > S-232: Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk

Abstract: Approaches to aggregation are reviewed. These consist of random parameters, random right hand side variables (Stoker's approach}. and exact aggregation. Each approach utilizes different assumptions and has weaknesses. In a sense, exact aggregation is the nonparametric approach. The penultimate section of the paper shows that these concepts may be very important for risk analysis. A simulation model gives substantially biased estimates of regression parameters when exact aggregation procedures are not followed.

Keywords: Research Methods/Statistical Methods; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 13
Date: 1990-04
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:rrsr90:271538

DOI: 10.22004/ag.econ.271538

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