TY - JOUR TI - Essays on model specification tests and on binary response models DO - https://doi.org/doi:10.7282/T3C827WK PY - 2013 AB - This dissertation consists of three essays evaluating model selection criteria in both sampling theory and Bayesian analysis. In chapter one, I compare the Bayesian model selection criteria (DIC, PDIC and MSEF) and the conditional Kolmogorov test for the spot asset pricing models (Vasicek and CIR models); MCMC and block Bootstrap methods are applied. In chapter two, I compare parametric and semiparametric methods for the binary response models. The comparison is made by model specifications, ROC area, and marginal effects. Monte Carlo simulation, quasi-maximum likelihood and kernel density methods are applied. In chapter three, I compare two bandwidths of the kernel density: the standard bandwidth and computationally optimized bandwidth. The computationally optimized bandwidth is obtained by using the graphic processing unit (GPU) that shortens the computational time. KW - Economics KW - Bayesian statistical decision theory KW - Binary system (Mathematics) LA - eng ER -