Optimal Aggregation of Input-Output Coeffictents - A Decision Theoretic Approach

Itzhak Venezia

Research output: Contribution to journalArticlepeer-review

Abstract

We present a criterion for the optimal aggregation of industries in input-output analysis, when the aggregation is made prior to data collection. This criterion is based on a model assuming that the input-output coefficients are used in some decision process, and that they are unknown (or random) prior to data collection. We show that our criterion, based on decision theoretic considerations, differs considerably from traditional criteria for good aggregation. Our model is also applied, as an example, to the Netherlands economy.

Original languageEnglish
Pages (from-to)557-570
Number of pages14
JournalCommunications in Statistics - Theory and Methods
Volume9
Issue number5
DOIs
StatePublished - 1 Jan 1980

Keywords

  • pre-data collection aggregation
  • prior and posterior distributions

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