By Bernt P. Stigum
As such a lot econometricians will easily agree, the information utilized in utilized econometrics seldom supply exact measurements for the pertinent theory's variables. right here, Bernt Stigum bargains the 1st systematic and theoretically sound means of accounting for such inaccuracies. He and a individual staff of members bridge econometrics and the philosophy of economics--two themes that appear worlds aside. They ask: How is a technology of economics attainable? the answer's elusive. financial idea appears approximately summary rules or, it would be acknowledged, approximately toys in a toy neighborhood. How can a researcher with such instruments examine whatever in regards to the social fact during which she or he lives?
This publication exhibits that an econometrician with the correct knowing of financial thought and the proper of questions can achieve wisdom approximately attribute positive aspects of the social global. It addresses assorted themes in either classical and Bayesian econometrics, providing considerable facts that its solution to the basic query is sound.
The first ebook to comprehensively discover financial idea and econometrics at the same time, Econometrics and the Philosophy of Economics represents an authoritative account of up to date monetary method. a couple of 3rd of the chapters are authored or coauthored through Heather Anderson, Erik Biørn, Christophe Bontemps, Jeffrey A. Dubin, Harald E. Goldstein, Clive W.J. Granger, David F. Hendry, Herman Ruge-Jervell, Dale W. Jorgenson, Hans-Martin Krolzig, Nils Lid Hjort, Daniel L. McFadden, Grayham E. Mizon, Tore Schweder, Geir Storvik, and Herman ok. van Dijk.
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Extra info for Econometrics and the Philosophy of Economics: Theory-Data Confrontations in Economics
Econometrics and the Philosophy of Economics: Theory-Data Confrontations in Economics by Bernt P. Stigum