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Theoretical and Methodological Context of (Post)-Modern Econometrics and Competing Philosophical Discourses for Policy Prescription

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  • Jackson, Emerson Abraham

Abstract

This research article was championed as a way of providing discourses pertaining to the concept of "Critical Realism (CR)" approach, which is amongst many othe forms of competing postmodern philosophical concepts for the engagement of dialogical discourses in the area of established econonetric methodologies for effective policy prescription in the economic science discipline. On the the whole, there is no doubt surrounding the value of empirical endeavours in econometrics to address real world economic problems, but equally so, the heavy weighted use and reliance on mathematical contents as a way of justifying its scientific base seemed to be loosing traction of the intended focus of economics when it comes to confronting real world problems in the domain of social interaction. In this vein, the construction of mixed methods discourse(s), which favour that of CR philosophy is hereby suggested in this article as a way forward in confronting with issues raised by critics of mainstream economics and other professionals in the postmodern era.

Suggested Citation

  • Jackson, Emerson Abraham, 2018. "Theoretical and Methodological Context of (Post)-Modern Econometrics and Competing Philosophical Discourses for Policy Prescription," MPRA Paper 86796, University Library of Munich, Germany, revised 19 May 2018.
  • Handle: RePEc:pra:mprapa:86796
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    2. Jordi Brandts & Gary Charness, 2011. "The strategy versus the direct-response method: a first survey of experimental comparisons," Experimental Economics, Springer;Economic Science Association, vol. 14(3), pages 375-398, September.
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    5. Paul Downward & Andrew Mearman, 2007. "Retroduction as mixed-methods triangulation in economic research: reorienting economics into social science," Cambridge Journal of Economics, Oxford University Press, vol. 31(1), pages 77-99, January.
    6. Dean S. Karlan, 2005. "Using Experimental Economics to Measure Social Capital and Predict Financial Decisions," American Economic Review, American Economic Association, vol. 95(5), pages 1688-1699, December.
    7. Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
    8. John Mingers, 2001. "Combining IS Research Methods: Towards a Pluralist Methodology," Information Systems Research, INFORMS, vol. 12(3), pages 240-259, September.
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    More about this item

    Keywords

    Theoretical; Methodological Intervention; Postmodern; Critical Realism; Econometrics;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General

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