IDEAS home Printed from https://ideas.repec.org/a/eej/eeconj/v16y1990i3p249-256.html
   My bibliography  Save this article

Econometrics in Theory and Practice

Author

Listed:
  • Steven Caudill

    (Auburn University)

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.

Suggested Citation

  • 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
    as

    Download full text from publisher

    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume16/V16N3P249_256.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. William Milberg, 1999. "The Rhetoric of Policy Relevance in International Economics," Macroeconomics 9904009, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Raymond Hubbard & Daniel E. Vetter, 1992. "The Publication Incidence of Replications and Critical Commentary in Economics," The American Economist, Sage Publications, vol. 36(1), pages 29-34, March.
    2. Maren Duvendack & Richard W. Palmer-Jones & W. Robert Reed, 2015. "Replications in Economics: A Progress Report," Econ Journal Watch, Econ Journal Watch, vol. 12(2), pages 164–191-1, May.
    3. Raymond Hubbard & JS Armstrong, 2005. "Replications and Extensions in Marketing – Rarely Published But Quite Contrary," General Economics and Teaching 0502051, University Library of Munich, Germany.
    4. Hubbard, Raymond & Vetter, Daniel E., 1996. "An empirical comparison of published replication research in accounting, economics, finance, management, and marketing," Journal of Business Research, Elsevier, vol. 35(2), pages 153-164, February.
    5. Mueller-Langer, Frank & Andreoli-Versbach, Patrick, 2018. "Open access to research data: Strategic delay and the ambiguous welfare effects of mandatory data disclosure," Information Economics and Policy, Elsevier, vol. 42(C), pages 20-34.
    6. Thomas Mayer, 2012. "Ziliak and McCloskey's Criticisms of Significance Tests: An Assessment," Econ Journal Watch, Econ Journal Watch, vol. 9(3), pages 256-297, September.
    7. Andreoli-Versbach, Patrick & Mueller-Langer, Frank, 2014. "Open access to data: An ideal professed but not practised," Research Policy, Elsevier, vol. 43(9), pages 1621-1633.
    8. Kevin D. Hoover & Stephen J. Perez, 1999. "Data mining reconsidered: encompassing and the general-to-specific approach to specification search," Econometrics Journal, Royal Economic Society, vol. 2(2), pages 167-191.
    9. Chris Doucouliagos & T.D. Stanley, 2013. "Are All Economic Facts Greatly Exaggerated? Theory Competition And Selectivity," Journal of Economic Surveys, Wiley Blackwell, vol. 27(2), pages 316-339, April.
    10. Abel Brodeur & Mathias Lé & Marc Sangnier & Yanos Zylberberg, 2016. "Star Wars: The Empirics Strike Back," American Economic Journal: Applied Economics, American Economic Association, vol. 8(1), pages 1-32, January.
    11. R. Murray Lindsay, 1994. "Publication System Biases Associated with the Statistical Testing Paradigm," Contemporary Accounting Research, John Wiley & Sons, vol. 11(1), pages 33-57, June.
    12. Costa-Font, Joan & McGuire, Alistair & Stanley, Tom, 2013. "Publication selection in health policy research: The winner's curse hypothesis," Health Policy, Elsevier, vol. 109(1), pages 78-87.
    13. Kane, Stephen, 2004. "Scientific methods in finance," International Review of Financial Analysis, Elsevier, vol. 13(1), pages 105-118.
    14. Kevin D. Hoover & Stephen J. Perez, 1999. "Data mining reconsidered: encompassing and the general-to-specific approach to specification search," Econometrics Journal, Royal Economic Society, vol. 2(2), pages 167-191.
    15. Grahame Thompson, 1993. "Causality in economics: Rhetorical ethic or positivist empiric?," Quality & Quantity: International Journal of Methodology, Springer, vol. 27(1), pages 47-71, February.
    16. Yang, Haisheng & He, Jie & Chen, Shaoling, 2015. "The fragility of the Environmental Kuznets Curve: Revisiting the hypothesis with Chinese data via an “Extreme Bound Analysis”," Ecological Economics, Elsevier, vol. 109(C), pages 41-58.
    17. Petrick, Martin, 2004. "Can Econometric Analysis Make (Agricultural) Economics A Hard Science? Critical Remarks And Implications For Economic Methodology," IAMO Discussion Papers 14911, Institute of Agricultural Development in Transition Economies (IAMO).
    18. Michael A. Clemens, 2017. "The Meaning Of Failed Replications: A Review And Proposal," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 326-342, February.
    19. David Card, 2022. "Design-Based Research in Empirical Microeconomics," American Economic Review, American Economic Association, vol. 112(6), pages 1773-1781, June.
    20. Klos, Alexander & Rottke, Simon, 2013. "Saving and Consumption When Children Move Out," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79786, Verein für Socialpolitik / German Economic Association.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eej:eeconj:v:16:y:1990:i:3:p:249-256. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Victor Matheson, College of the Holy Cross (email available below). General contact details of provider: https://edirc.repec.org/data/eeaa1ea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.