Econometrics and the Philosophy of Economics : Theory-Data Confrontations in Economics

Bernt P. Stigum

As most econometricians will readily agree, the data used in applied econometrics seldom provide accurate measurements for the pertinent theory's variables. Here, Bernt Stigum offers the first systematic and theoretically sound way of accounting for such inaccuracies. He and a distinguished group of contributors bridge econometrics and the philosophy of economics--two topics that seem worlds apart. They ask: How is a science of economics possible? The answer is elusive. Economic theory seems to be about abstract ideas or, it might be said, about toys in a toy community. How can a researcher with such tools learn anything about the social reality in which he or she lives? This book shows that an econometrician with the proper understanding of economic theory and the right kind of questions can gain knowledge about characteristic features of the social world. It addresses varied topics in both classical and Bayesian econometrics, offering ample evidence that its answer to the fundamental question is sound. The first book to comprehensively explore economic theory and econometrics simultaneously, Econometrics and the Philosophy of Economics represents an authoritative account of contemporary economic methodology. About a third of the chapters are authored or coauthored by 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 K. van Dijk.

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Year of publication:	[2015]
Authors:	Stigum, Bernt P.
Publisher:	Princeton, NJ : Princeton University Press
Subject:	Ökonometrie \| Econometrics \| Wirtschaftsphilosophie \| Philosophy of economics \| Wirtschaftswissenschaft \| Economics \| Wirtschaftstheorie \| Economic theory
Description of contents:	Description [degruyter.com] ; Description [degruyter.com] ; Description [degruyter.com]

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Extent:	1 online resource
Type of publication:	Book / Working Paper
Language:	English
Notes:	Mode of access: Internet via World Wide Web Frontmatter -- -- Contents -- -- Figures -- -- Tables -- -- Preface -- -- Chapter 1. Introduction -- -- PART I. Facts and Fiction in Econometrics -- -- Chapter 2. The Construction of Social Reality -- -- Chapter 3. The Social Construction of Reality -- -- Chapter 4. Facts and Fiction in Econometrics -- -- PART II. Theorizing in Economics -- -- Chapter 5. Theories and Models -- -- Chapter 6. The Purport of an Economic Theory -- -- Chapter 7. Rationality in Economics -- -- Chapter 8. Topological Artifacts and Life in Large Economies -- -- PART III .Theory-Data Confrontations in Economics -- -- Chapter 9. Rational Animals and Sample Populations -- -- Chapter 10. The Theory Universe -- -- Chapter 11. The Data Universe -- -- Chapter 12. The Bridge Principles -- -- PART IV. Data Analyses -- -- Chapter 13. Frequentist Analogues of Priors and Posteriors -- -- Chapter 14. On the COLS and CGMM Moment Estimation Methods for Frontier Production Models -- -- Chapter 15. Congruence and Encompassing -- -- Chapter 16. New Developments in Automatic General-to-Specific Modeling -- -- PART V. Empirical Relevance -- -- Chapter 17. Conjectures, Theories, and Their Empirical Relevance -- -- Chapter 18. Probability versus Capacity in Choice under Uncertainty -- -- Chapter 19. Evaluation of Theories and Models -- -- PART VI. Diagnostics and Scientific Explanation -- -- Chapter 20. Diagnoses and Defaults in Artificial Intelligence and Economics -- -- Chapter 21. Explanations of an Empirical Puzzle: What Can Be Learned from a Test of the Rational Expectations Hypothesis? -- -- Chapter 22. Scientific Explanation in Economics -- -- Chapter 23. Scientific Explanation in Econometrics: A Case Study -- -- PART VII. Contemporary Econometric Analyses -- -- Chapter 24. Handling the Measurement Error Problem by Means of Panel Data: Moment Methods Applied on Firm Data -- -- Chapter 25. On Bayesian Structural Inference in a Simultaneous Equation Model -- -- Chapter 26. An Econometric Analysis of Residential Electric Appliance Holdings and Consumption -- -- Chapter 27. Econometric Methods for Applied General Equilibrium Analysis -- -- Index -- -- ERRATA In English
ISBN:	978-1-4008-7323-4 ; 978-0-691-16824-1
Other identifiers:	10.1515/9781400873234 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014482340