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Entropy
Volume 21
Issue 2
10.3390/e21020160
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Article

A Comparison Study on Criteria to Select the Most Adequate Weighting Matrix

by
Marcos Herrera
1,†,
Jesus Mur
2,† and
Manuel Ruiz
3,*
1
CONICET-IELDE, National University of Salta, Salta A4408FVY, Argentina
2
Department of Economic Analysis, University of Zaragoza, 50005 Zaragoza, Spain
3
Department of Quantitative Methods, Law and Modern Languages, Technical University of Cartagena, 30201 Cartagena, Spain
*
Author to whom correspondence should be addressed.
†
Both authors contributed equally to this work.
Entropy 2019, 21(2), 160; https://doi.org/10.3390/e21020160
Submission received: 13 January 2019 / Revised: 6 February 2019 / Accepted: 6 February 2019 / Published: 8 February 2019
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Abstract

The practice of spatial econometrics revolves around a weighting matrix, which is often supplied by the user on previous knowledge. This is the so-called W issue. Probably, the aprioristic approach is not the best solution although, presently, there are few alternatives for the user. Our contribution focuses on the problem of selecting a W matrix from among a finite set of matrices, all of them considered appropriate for the case. We develop a new and simple method based on the entropy corresponding to the distribution of probability estimated for the data. Other alternatives, which are common in current applied work, are also reviewed. The paper includes a large study of Monte Carlo to calibrate the effectiveness of our approach compared to others. A well-known case study is also included.
Keywords: weights matrix; model selection; entropy; Monte Carlo weights matrix; model selection; entropy; Monte Carlo

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MDPI and ACS Style

Herrera, M.; Mur, J.; Ruiz, M. A Comparison Study on Criteria to Select the Most Adequate Weighting Matrix. Entropy 2019, 21, 160. https://doi.org/10.3390/e21020160

AMA Style

Herrera M, Mur J, Ruiz M. A Comparison Study on Criteria to Select the Most Adequate Weighting Matrix. Entropy. 2019; 21(2):160. https://doi.org/10.3390/e21020160

Chicago/Turabian Style

Herrera, Marcos, Jesus Mur, and Manuel Ruiz. 2019. "A Comparison Study on Criteria to Select the Most Adequate Weighting Matrix" Entropy 21, no. 2: 160. https://doi.org/10.3390/e21020160

APA Style

Herrera, M., Mur, J., & Ruiz, M. (2019). A Comparison Study on Criteria to Select the Most Adequate Weighting Matrix. Entropy, 21(2), 160. https://doi.org/10.3390/e21020160

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