Validation I | Validation II | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Pooled sample (N = 590) | Random sample I (N = 100) | Random sample II (N = 300) | Random sample III (N = 500) | |||||||||
Mean utility | MAE | RMSE | Mean utility | MAE | RMSE | Mean utility | MAE | RMSE | Mean utility | MAE | RMSE | |
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | |
Observed | 0.8082 | ― | ― | 0.8265 | ― | ― | 0.8094 | ― | ― | 0.8102 | ― | ― |
Method 1: Ordinary least squares estimator | ||||||||||||
Model 1 | 0.8085 | 0.0982 | 0.1245 | 0.8166 | 0.0874 | 0.1091 | 0.8107 | 0.0938 | 0.1205 | 0.8111 | 0.0985 | 0.1248 |
Model 2 | 0.8088 | 0.0963** | 0.1209* | 0.8127 | 0.0845** | 0.1054** | 0.8112 | 0.0943 | 0.1187* | 0.8104 | 0.0947** | 0.1194* |
Method 2: Censored least absolute deviations estimator | ||||||||||||
Model 1 | 0.8202 | 0.0993 | 0.1268 | 0.8274 | 0.0867 | 0.1084 | 0.8211 | 0.0931* | 0.1209 | 0.8214 | 0.0977 | 0.1253 |
Model 2 | 0.8207 | 0.1006 | 0.1273 | 0.8378 | 0.0866 | 0.1097 | 0.8358 | 0.0946 | 0.1227 | 0.8344 | 0.0954 | 0.1232 |
Method 3: MM-estimator | ||||||||||||
Model 1 | 0.8133 | 0.0983 | 0.1253 | 0.8232 | 0.0865 | 0.1082 | 0.8164 | 0.0931* | 0.1208 | 0.8167 | 0.0977 | 0.1253 |
Model 2 | 0.8147 | 0.0962* | 0.1216** | 0.8201 | 0.0842* | 0.1053* | 0.8181 | 0.0937** | 0.1193** | 0.8168 | 0.0944* | 0.1200** |
Method 4: Generalised linear model | ||||||||||||
Model 1 | 0.8082 | 0.0977 | 0.1243 | 0.8149 | 0.0881 | 0.1097 | 0.8104 | 0.0940 | 0.1215 | 0.8108 | 0.0984 | 0.1252 |
Model 2 | 0.8085 | 0.0979 | 0.1226 | 0.8104 | 0.0920 | 0.1144 | 0.8085 | 0.0964 | 0.1206 | 0.8092 | 0.0967 | 0.1211 |