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Model Evaluation and Choice

Author

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  • Alice Nakamura
  • James R. Walker

Abstract

The paper begins with a reexamination of the goals of model evaluation and choice. Desirable properties for an empirical model are stated as situational, a priori, observational and specification consistency principles. If these consistency principles are accepted as a basis for model evaluation, then one obvious approach to model choice is to consider the relative goodness of the candidate models in terms of each of the four consistency principles. Specific examples from our own empirical research are used to illustrate the advantages of the suggested multidimensional approach to model evaluation and choice.

Suggested Citation

  • Alice Nakamura & James R. Walker, 1994. "Model Evaluation and Choice," Journal of Human Resources, University of Wisconsin Press, vol. 29(2), pages 223-247.
    • Handle: RePEc:uwp:jhriss:v:29:y:1994:ii:1:p:223-247
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    Cited by:

    1. Shelly Lundberg & Daniel Klepinger & Robert Plotnick, 1998. "Teen Childbearing and Human Capital: Does Timing Matter?," Discussion Papers in Economics at the University of Washington 0057, Department of Economics at the University of Washington.
    2. Daniel Klepinger & Shelly Lundberg & Robert Plotnick, 1999. "How Does Adolescent Fertility Affect the Human Capital and Wages of Young Women?," Journal of Human Resources, University of Wisconsin Press, vol. 34(3), pages 421-448.
    3. D. Klepinger & S. Lundberg & R. Plotnick, "undated". "Instrument selection: The case of teenage childbearing and women's educational attainment," Institute for Research on Poverty Discussion Papers 1077-95, University of Wisconsin Institute for Research on Poverty.

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