Band within results should considered more accurate

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Reference no: EM13838213

While RIMS II, IMPLAN, and other methods regularly deviate substantially from each other in the answers they yield to analytical questions, is there a "band" within results should be considered "more accurate".

For example, if RIMS and IMPLAN give a quantitative result on the order of x, and a third method gives a result 2,3, or more orders of magnitude higher, should the third method be disregarded?

I ask this because I've submitted analysis based off industry-specific methods and had it roundly rejected not because there was a flaw in my analysis, but because it didn't agree with general case tools, or differed to markedly.

Is there a best practice within econometrics that says "throw out all results farther than Y from some accepted average"?

Reference no: EM13838213

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