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Should Economists Use Open Source Software for Doing Research?

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Author Info

  • A. Talha Yalta

    (TOBB University of Economics and Technology, Department of Economics)

  • A. Yasemin Yalta

    (Hacettepe University, Department of Economics)

Abstract

We survey the literature on the accuracy of econometric software. We also assess the advantages of open source software from the point of view of reliability and discuss its potential in applied economics, which has now become fully dependent on computers. As a case study, we apply various accuracy tests on gretl (GNU Regression, Econometrics and Time-series Library) and demonstrate that the open source nature of the program made it possible to see the cause, facilitated a rapid fix, and enabled verifying the correction of a number of flaws that we uncovered. We also run the same tests on four widely-used proprietary econometric packages and observe the known accuracy errors that remained uncorrected for more than five years.

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File URL: http://www.iktisat.hacettepe.edu.tr/WP/WP-2012-7.pdf
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Bibliographic Info

Paper provided by Hacettepe University, Department of Economics in its series Hacettepe University Department of Economics Working Papers with number 20127.

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Length: 26 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:hac:hacwop:20127

Contact details of provider:
Postal: Hacettepe University, Faculty of Economics and Administrative Sciences, Department of Economics, Ankara, Turkey
Phone: 0090 312 297 8652
Fax: (312) 299 2003
Email:
Web page: http://www.iktisat.hacettepe.edu.tr
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Keywords: Open source; Econometric software; gretl; Accuracy; Software reliability;

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References

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. On the advantages of open-source econometrics
    by Economic Logician in Economic Logic on 2012-02-13 15:08:00
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Cited by:
  1. Luc Anselin, 2012. "From SpaceStat to CyberGIS," International Regional Science Review, , vol. 35(2), pages 131-157, April.
  2. Rodolphe Buda, 2013. "SIMUL 3.2: An Econometric Tool for Multidimensional Modelling," Computational Economics, Society for Computational Economics, vol. 41(4), pages 517-524, April.
  3. repec:asg:wpaper:1047 is not listed on IDEAS
  4. Ignacio Díaz-Emparanza & Petr Mariel & María Victoria Esteban (ed.), 2009. "Econometrics with gretl. Proceedings of the gretl Conference 2009," UPV/EHU Books, Universidad del País Vasco - Facultad de Ciencias Económicas y Empresariales, edition 1, number 01.
  5. A. Talha Yalta & A. Yasemin Yalta, 2009. "Wilkinson Tests and gretl," EHUCHAPS, Universidad del País Vasco - Facultad de Ciencias Económicas y Empresariales.

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