Cost-effective estimation of the population mean using prediction estimators

This paper considers the prediction estimator as an efficient estimator for the population mean. The study may be viewed as an earlier study that proved that the prediction estimator based on the iteratively weighted least squares estimator outperforms the sample mean. The analysis finds that a cert...

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Main Authors: FUJII, Tomoki, VAN DER WEIDE, Roy
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Language:English
Published: Institutional Knowledge at Singapore Management University 2013
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Online Access:https://ink.library.smu.edu.sg/soe_research/1523
https://ink.library.smu.edu.sg/context/soe_research/article/2522/viewcontent/WPS6509.pdf
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spelling sg-smu-ink.soe_research-25222019-09-30T08:02:21Z Cost-effective estimation of the population mean using prediction estimators FUJII, Tomoki VAN DER WEIDE, Roy This paper considers the prediction estimator as an efficient estimator for the population mean. The study may be viewed as an earlier study that proved that the prediction estimator based on the iteratively weighted least squares estimator outperforms the sample mean. The analysis finds that a certain moment condition must hold in general for the prediction estimator based on a Generalized-Method-of-Moment estimator to be at least as efficient as the sample mean. In an application to cost-effective double sampling, the authors show how prediction estimators may be adopted to maximize statistical precision (minimize financial costs) under a budget constraint (statistical precision constraint). This approach is particularly useful when the outcome variable of interest is expensive to observe relative to observing its covariates. 2013-06-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soe_research/1523 info:doi/10.1596/1813-9450-6509 https://ink.library.smu.edu.sg/context/soe_research/article/2522/viewcontent/WPS6509.pdf http://creativecommons.org/licenses/by/3.0/ Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Prediction Double Sampling Maximum Likelihood Generalized Method Of Moment Regression Estimator Econometrics Macroeconomics
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Prediction
Double Sampling
Maximum Likelihood
Generalized Method Of Moment
Regression Estimator
Econometrics
Macroeconomics
spellingShingle Prediction
Double Sampling
Maximum Likelihood
Generalized Method Of Moment
Regression Estimator
Econometrics
Macroeconomics
FUJII, Tomoki
VAN DER WEIDE, Roy
Cost-effective estimation of the population mean using prediction estimators
description This paper considers the prediction estimator as an efficient estimator for the population mean. The study may be viewed as an earlier study that proved that the prediction estimator based on the iteratively weighted least squares estimator outperforms the sample mean. The analysis finds that a certain moment condition must hold in general for the prediction estimator based on a Generalized-Method-of-Moment estimator to be at least as efficient as the sample mean. In an application to cost-effective double sampling, the authors show how prediction estimators may be adopted to maximize statistical precision (minimize financial costs) under a budget constraint (statistical precision constraint). This approach is particularly useful when the outcome variable of interest is expensive to observe relative to observing its covariates.
format text
author FUJII, Tomoki
VAN DER WEIDE, Roy
author_facet FUJII, Tomoki
VAN DER WEIDE, Roy
author_sort FUJII, Tomoki
title Cost-effective estimation of the population mean using prediction estimators
title_short Cost-effective estimation of the population mean using prediction estimators
title_full Cost-effective estimation of the population mean using prediction estimators
title_fullStr Cost-effective estimation of the population mean using prediction estimators
title_full_unstemmed Cost-effective estimation of the population mean using prediction estimators
title_sort cost-effective estimation of the population mean using prediction estimators
publisher Institutional Knowledge at Singapore Management University
publishDate 2013
url https://ink.library.smu.edu.sg/soe_research/1523
https://ink.library.smu.edu.sg/context/soe_research/article/2522/viewcontent/WPS6509.pdf
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