Probability, Econometrics and Truth
The Methodology of Econometrics
By (author) Hugo A. Keuzenkamp
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Probability, Econometrics and Truth by Hugo A. Keuzenkamp
Book DescriptionWhen John Maynard Keynes likened Jan Tinbergen's early work in econometrics to black magic and alchemy, he was expressing a widely held view of a new discipline. However, even after half a century of practical work and theorizing by some of the most accomplished social scientists, Keynes' comments are still repeated today. This book assesses the foundations and development of econometrics and sets out a basis for the reconstruction of the foundations of econometric inference by examining the various interpretations of probability theory which underlie econometrics. Keuzenkamp claims that the probabilistic foundations of econometrics are weak, and although econometric inferences may yield interesting knowledge, claims to be able to falsify or verify economic theories are unwarranted. Methodological falsificationism in econometrics is an illusion. Instead, it is argued, econometrics should locate itself in the tradition of positivism.
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Book DetailsISBN: 9780521553599
(228mm x 152mm x 22mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 2-Nov-2000
Country of Publication: United Kingdom
Books By Author Hugo A. Keuzenkamp
Simplicity, Inference and Modelling, Paperback (October 2009)
An inter-disciplinary perspective on the role of simplicity in modelling and inference, first published in 2002.
Probability, Econometrics and Truth, Paperback (November 2006)» View all books by Hugo A. Keuzenkamp
A critique of the philosophical and methodological bases of much of modern econometrics.
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