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Econometrics in Theory and Practice


  • Steven Caudill

    (Auburn University)


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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  • Steven Caudill, 1990. "Econometrics in Theory and Practice," Eastern Economic Journal, Eastern Economic Association, vol. 16(3), pages 249-256, Jul-Sep.
  • Handle: RePEc:eej:eeconj:v:16:y:1990:i:3:p:249-256

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    References listed on IDEAS

    1. Lovell, Michael C, 1983. "Data Mining," The Review of Economics and Statistics, MIT Press, vol. 65(1), pages 1-12, February.
    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 1291-1295, December.
    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.
    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 309-315, May.
    5. Mayer, Thomas, 1980. "Economics as a Hard Science: Realistic Goal or Wishful Thinking?," Economic Inquiry, Western Economic Association International, vol. 18(2), pages 165-178, April.
    6. Lh, 1975. "Editorial comment," The Review of Black Political Economy, Springer;National Economic Association, vol. 5(2), pages 126-126, December.
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    Cited by:

    1. William Milberg, 1999. "The Rhetoric of Policy Relevance in International Economics," Macroeconomics 9904009, EconWPA.

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