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st: Bias: Monte Carlo


From   John Antonakis <John.Antonakis@unil.ch>
To   statalist@hsphsun2.harvard.edu
Subject   st: Bias: Monte Carlo
Date   Mon, 06 May 2013 09:49:07 +0200

Hi:

I am running some Monte Carlos where I am interested in observing the bias in parameter estimates across manipulated conditions. By bias I mean the absolute percentage difference of the simulated value from the true value.

I was wondering whether there has been another written about how much bias is "acceptable"--I know that this is like asking how long is a piece of string and that there is no statistical fiat that can give a definitive answer, because it also is a very field specific issue. I guess in physics or social sciences we would be willing to put up with different degrees of bias.

What I am looking for what is an commonly acceptable limit in social sciences (and econometrics) in particular. Does anyone know of any references in this regard? I am looking at setting the boundary of "acceptable bias" at about 20%--would that be too high? I welcome any thoughts.

Best,
J.

--
__________________________________________

John Antonakis
Professor of Organizational Behavior
Director, Ph.D. Program in Management

Faculty of Business and Economics
University of Lausanne
Internef #618
CH-1015 Lausanne-Dorigny
Switzerland
Tel ++41 (0)21 692-3438
Fax ++41 (0)21 692-3305
http://www.hec.unil.ch/people/jantonakis

Associate Editor
The Leadership Quarterly
__________________________________________

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