期刊名称：Discussion Papers in Economics / Department of Economics, University of York
出版年度：2017
卷号：2017
出版社：University of York
摘要：This paper highlights the importance and significance of the stochastic assumptions underlying any empirical analysis. The stochastic assumptions in any data analysis are usually implicit, rather than explicitly, stated. For example, in a binomial option pricing model, we assume that we have a binary random variable. In this paper we examine the significance of the stochastic assumptions by looking at the statistical properties of stated allocations (in an allocation problem) and their relation to the optimal allocation. The message that emerges is an important one: that the stochastic specification underlying any statistical analysis matters for the interpretation of its results. Our results suggest that before doing any statistical analysis one should carry out extensive simulations.
