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Data Mining: A Reconsideration


  • Thomas Mayer

    (Department of Economics, University of California Davis)


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.

Suggested Citation

  • Thomas Mayer, 2003. "Data Mining: A Reconsideration," Working Papers 9715, University of California, Davis, Department of Economics.
  • Handle: RePEc:cda:wpaper:97-15

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    References listed on IDEAS

    1. Robert E. Hall & Charles I. Jones, "undated". "The Productivity of Nations," Working Papers 96012, Stanford University, Department of Economics.
    2. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    3. Jeffrey A. Frankel & David Romer, 1996. "Trade and Growth: An Empirical Investigation," NBER Working Papers 5476, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Gérard Charreaux, 2008. "La recherche en finance d’entreprise:quel positionnement méthodologique ?," Revue Finance Contrôle Stratégie,, vol. 11(Special), pages 237-290, June.
    2. 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.
    3. Amavilah, Voxi Heinrich, 2012. "The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies," MPRA Paper 44656, University Library of Munich, Germany, revised 28 Feb 2013.

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