Abstract
The maximum likelihood estimation principle, unbiasedness and hypothesis testing serve as foundation stones for much that goes on in the lives of theoretical and applied econometricians. In this context, the purpose of these words and other symbols is to review the statistical implications of pursuing these estimation and inference goals and to suggest superior alternatives.
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Judge, G.G. (2018). Shrinkage-Biased Estimation in Econometrics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1923
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1923
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