Abstract

In economics we customarily deal with classical data sets. When we collect information on a set of variables of interest, either in a cross-sectional or/and time series framework, our sample information is a collection of data points {y_i }, i = 1 … n or {y_t }, t = 1… T where y_i or y_t ∈ ? takes a single value in ?. In many instances, the single value is the result of an aggregation procedure, spatial or temporal, over information collected at a very disaggregated level. Some pertinent examples follow.