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Data Mining: A Reconsideration

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  • Thomas Mayer

    (Department of Economics, University of California Davis)

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    Abstract

    Before condemning data mining one should distinguish between objective and biased data mining. The former is commendable. Even biased data mining is appropriate when used to illustrate and not to test hypotheses. In the context of testing, the problem with biased data mining arises not from the fitting of many regression, but from inadequate reporting of results. The trend towards reporting the results of more alternative specifications, and thus addressing the fragility problem, should be encouraged. To do that the incentives that economists face should be changed.

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    Bibliographic Info

    Paper provided by University of California, Davis, Department of Economics in its series Working Papers with number 9715.

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    Length: 0
    Date of creation: 09 Jan 2003
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    Handle: RePEc:cda:wpaper:97-15

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    Cited by:
    1. David Colander, 2000. "New Millennium Economics: How Did It Get This Way, and What Way Is It?," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 121-132, Winter.

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