This chapter discusses statistical theories of model selection and traditional problems. One important source of model-selection problems is the existence of a priori opinion that constraints are likely. Statistical testing is then designed either to determine if a set of constraints is true or...

The Handbook is a definitive reference source and teaching aid for econometricians. It examines models, estimation theory, data analysis and field applications in econometrics. Comprehensive surveys, written by experts, discuss recent developments at a level suitable for professional use by...