(), Therese Norman
and Sam Tavassoli
Thomas Holgersson: CSIR, Blekinge Inst of Technology, Postal: Jönköping International Business School, Box 1026 , 55 111 Jönköping , Sweden, Linnæus University , 351 95 Växjö , Sweden
Therese Norman: CSIR, Blekinge Inst of Technology, Postal: Jönköping International Business School, Box 1026, 55 111 Sweden
Sam Tavassoli: CSIR, Blekinge Inst of Technology, Postal: CSIR, School of Management, Blekinge Inst of Technology, 371 79 Karlskrona, Sweden
Abstract: Economic significance is frequently assessed through statistical hypothesis testing, which however, does not always correspond to the implicit economical questions being addressed. In this paper we propose using mean value decomposition to assess economic significance. Unlike most previously suggested methods the proposed one is intuitive and simple to conduct. The technique is demonstrated and contrasted with hypothesis tests by an empirical example involving the income of Mexican children, which shows that the two inference approaches provide different and supplementary pieces of information.
13 pages, December 3, 2013
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