(), Therese Norman
() and Sam Tavassoli
Thomas Holgersson: Jönköping International Business School, and Linnaeus University, Postal: Jönköping International Business School, , Box 1026, , 55 111 Sweden
Therese Norman: Jönköping International Business School, Postal: Jönköping International Business School, , Box 1026, , 55 111 Sweden
Sam Tavassoli: Blekinge Institute of Technology, Postal: Blekinge Institute of Technology, , School of Management, , 371 79 Karlskrona, , Sweden
Abstract: Economic significance is frequently assessed through statistical hypothesis testing. This habitual use is, however, usually not matching with 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.
16 pages, October 11, 2013
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