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Econometrics in Theory and Practice

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Author Info
Steven Caudill (Auburn University)

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Abstract

The purpose of this paper is to explore the answers to several questions raised by the fact that econometrics in theory is not the same as econometrics in practice. An obvious question is why econometrics in theory differs from econometrics in practice. The simple answer is that the benefits from data mining are great. Another question raised by the difference between econometrics in theory and econometrics in practice is how to reconcile the two. The hope is to make the data miner behave more like a classical statistician.

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File URL: http://college.holycross.edu/eej/Volume16/V16N3P249_256.pdf
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Publisher Info
Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

Volume (Year): 16 (1990)
Issue (Month): 3 (Jul-Sep)
Pages: 249-256
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Handle: RePEc:eej:eeconj:v:16:y:1990:i:3:p:249-256

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Postal: Dr. Mary H. Lesser, Department of Economics, Iona College, New Rochelle, NY 10801-1890
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Lovell, Michael C, 1983. "Data Mining," The Review of Economics and Statistics, MIT Press, vol. 65(1), pages 1-12, February. [Downloadable!] (restricted)
  2. Feige, Edgar L, 1975. "The Consequences of Journal Editorial Policies and a Suggestion for Revision," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1291-95, December. [Downloadable!] (restricted)
  3. Dewald, William G & Thursby, Jerry G & Anderson, Richard G, 1986. "Replication in Empirical Economics: The Journal of Money, Credit and Banking Project," American Economic Review, American Economic Association, vol. 76(4), pages 587-603, September. [Downloadable!] (restricted)
  4. Siegfried, John J & White, Kenneth J, 1973. "Financial Rewards to Research and Teaching: A Case Study of Academic Economists," American Economic Review, American Economic Association, vol. 63(2), pages 309-15, May. [Downloadable!] (restricted)
  5. Mayer, Thomas, 1980. "Economics as a Hard Science: Realistic Goal or Wishful Thinking?," Economic Inquiry, Oxford University Press, vol. 18(2), pages 165-78, April.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. William Milberg, 1999. "The Rhetoric of Policy Relevance in International Economics," Macroeconomics 9904009, EconWPA. [Downloadable!]
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This page was last updated on 2008-7-21.

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