Experiment | OLSU | OLSRT | ROLS | LADRT | RR | RMLE | Correct value of K |
Panel 1. Mean of estimate | |||||||
Basic case | 0.6192 | 0.6218 | 0.6208 | 0.6210 | 0.6190 | 0.6203 | 0.6190 |
High r (0.10) | 0.6365 | 0.6392 | 0.6381 | 0.6383 | 0.6363 | 0.6376 | 0.6364 |
Low r (0.02) | 0.6080 | 0.6106 | 0.6095 | 0.6097 | 0.6078 | 0.6090 | 0.6078 |
High g (0.08) | 0.6210 | 0.6217 | 0.6204 | 0.6210 | 0.6209 | 0.6214 | 0.6190 |
Low g (0.02) | 0.6119 | 0.6219 | 0.6209 | 0.6209 | 0.6119 | 0.6159 | 0.6190 |
High q (0.60) | 0.4295 | 0.4302 | 0.4331 | 0.4303 | 0.4293 | 0.4290 | 0.4286 |
Low q (0.20) | 0.8023 | 0.8101 | 0.8053 | 0.8130 | 0.8012 | 0.8046 | 0.8095 |
High RAND (20) | 0.5940 | 0.6187 | 0.6188 | 0.6228 | 0.5938 | 0.6013 | 0.6190 |
Low RAND (5) | 0.6138 | 0.6182 | 0.6186 | 0.6176 | 0.6135 | 0.6150 | 0.6190 |
Panel 2. Variation coefficient | |||||||
Basic case | 0.0841 | 0.0257 | 0.0265 | 0.0315 | 0.0840 | 0.0651 | |
High r (0.10) | 0.0841 | 0.0257 | 0.0265 | 0.0315 | 0.0840 | 0.0656 | |
Low r (0.02) | 0.0841 | 0.0257 | 0.0265 | 0.0315 | 0.0840 | 0.0647 | |
High g (0.08) | 0.0698 | 0.0266 | 0.0278 | 0.0316 | 0.0697 | 0.0605 | |
Low g (0.02) | 0.1225 | 0.0253 | 0.0259 | 0.0312 | 0.1224 | 0.0828 | |
High q (0.60) | 0.1138 | 0.0159 | 0.0154 | 0.0236 | 0.1137 | 0.0800 | |
Low q (0.20) | 0.0994 | 0.0508 | 0.0533 | 0.0565 | 0.0991 | 0.0862 | |
High RAND (20) | 0.1753 | 0.0506 | 0.0522 | 0.0566 | 0.1752 | 0.1323 | |
Low RAND (5) | 0.0362 | 0.0135 | 0.0144 | 0.0162 | 0.0362 | 0.0280 | |
Panel 3. Mean absolute error | |||||||
Basic case | 0.0409 | 0.0130 | 0.0150 | 0.0173 | 0.0237 | 0.0312 | |
High r (0.10) | 0.0420 | 0.0133 | 0.0150 | 0.0173 | 0.0237 | 0.0314 | |
Low r (0.02) | 0.0401 | 0.0127 | 0.0150 | 0.0173 | 0.0237 | 0.0310 | |
High g (0.08) | 0.0344 | 0.0132 | 0.0165 | 0.0184 | 0.0279 | 0.0315 | |
Low g (0.02) | 0.0595 | 0.0128 | 0.0142 | 0.0166 | 0.0218 | 0.0386 | |
High q (0.60) | 0.0390 | 0.0055 | 0.0083 | 0.0101 | 0.0169 | 0.0275 | |
Low q (0.20) | 0.0617 | 0.0333 | 0.0386 | 0.0389 | 0.0474 | 0.0537 | |
High RAND (20) | 0.0884 | 0.0258 | 0.0297 | 0.0304 | 0.0488 | 0.0671 | |
Low RAND (5) | 0.0182 | 0.0067 | 0.0080 | 0.0095 | 0.0106 | 0.0142 |