The small multiple in econometrics – a redesign

Klein, Torsten L. (2014): The small multiple in econometrics – a redesign.

Abstract

This brief note serves as a companion paper to Klein (2014). Small multiples incorporate graphical frameworks such as P value plots with ease, and thus facilitate visualizing quantitative data that record parameter change from simulation experiments. Pitfalls in layout may be avoided when observing elementary design principles. To illustrate their workings the principles revise a small multiple that collects simulation results on the empirical size of procedures testing exogeneity in the bivariate probit model.

• Item Type: MPRA Paper
• Language: English
• Keywords: Monte Carlo, bivariate probit model, exogeneity testing, data visualization
• Subjects: C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C10 - General; C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C15 - Statistical Simulation Methods: General; C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C35 - Discrete Regression and Qualitative Choice Models ; Discrete Regressors ; Proportions; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C52 - Model Evaluation, Validation, and Selection; Y - Miscellaneous Categories > Y1 - Data: Tables and Charts > Y10 - Data: Tables and Charts

References

Davidson, Russell and James G. MacKinnon, 1998, “Graphical methods for investigating the size and power of hypothesis tests”, Manchester School 66(1), 1–26.

Klein, Torsten L., 2014, “Communicating quantitative information: tables vs graphs”, mimeo, PAS Research Unit.

Monfardini, Chiara and Rosalba Radice, 2008, “Testing exogeneity in the bivariate probit model: a Monte Carlo study”, Oxford Bulletin of Economics and Statistics 70(2), 271–282.

Tufte, Edward R., 1983, The visual display of quantitative information, Cheshire CN: Graphics Press.

Tufte, Edward R., 1990, Envisioning information, Cheshire CN: Graphics Press.