st: Bias: Monte Carlo

[John Antonakis <John.Antonakis@unil.ch>]

Hi:

I am running some Monte Carlos where I am interested in observing the 
bias in parameter estimates across manipulated conditions. By bias I 
mean the absolute percentage difference of the simulated value from the 
true value.

I was wondering whether there has been another written about how much 
bias is "acceptable"--I know that this is like asking how long is a 
piece of string and that there is no statistical fiat that can give a 
definitive answer, because it also is a very field specific issue. I 
guess in physics or social sciences we would be willing to put up with 
different degrees of bias.

What I am looking for what is an commonly acceptable limit in social 
sciences (and econometrics) in particular.  Does anyone know of any 
references in this regard? I am looking at setting the boundary of 
"acceptable bias" at about 20%--would that be too high?  I welcome any 
thoughts.

Best,
J.

--
__________________________________________

John Antonakis
Professor of Organizational Behavior
Director, Ph.D. Program in Management

Faculty of Business and Economics
University of Lausanne
Internef #618
CH-1015 Lausanne-Dorigny
Switzerland
Tel ++41 (0)21 692-3438
Fax ++41 (0)21 692-3305
http://www.hec.unil.ch/people/jantonakis

Associate Editor
The Leadership Quarterly
__________________________________________

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