M. Ishaq Bhatti is Senior Lecturer at La Trobe University in Melbourne, Australia. Hatem Al-Shanfari and M. Zakir Hossain are both Assistant Professors at Sultan Qaboos University, Sultanate of Oman.

'This is an advanced research work on some new directions of statistical analysis. It will prove to be useful particularly to the seriously committed in theoretical statistics...It is hoped that the book will open directions for future research in the area of establishing the rationale on model building using underlying economic and econometric reasoning with complexity as phenomenon.' Professor Masudul Alam Choudhury, Cape Breton University, Canada '...a very good introduction to anyone interested in the basics of model selection and model choice, and any applied economist wishing to apply information criteria in his or her work.' South-Eastern Europe Journal of Economics

• Contents: Introduction; Testing econometric models; Testing for block effects; Model selection procedures; Information criteria for model selection; Controlled information criteria for model selection; Arbitrage pricing model; Model selection in testing the arbitrage pricing theory; Modelling the risk premium of listed stocks; Bibliography; Index.