Econometrics and the Philosophy of Economics: Theory-Data Confrontations in Economics

Description

As most econometricians will readily agree, the data used in applied econometrics seldom provide accurate measurements for the pertinent theory's variables. Here, Bernt Stigum offers the first systematic and theoretically sound way of accounting for such inaccuracies. He and a distinguished group of contributors bridge econometrics and the philosop

Bernt P. Stigum is Professor of Economics at the University of Oslo. He is the author of Toward a Formal Science of Economics and coeditor of Foundations of Utility and Risk Theory with Applications.

"[A] remarkably ambitious and largely unprecedented analysis of the philosophical foundations of econometrics... Stigum has made a bold attempt to understand the enterprise of econometrics in its original formulation. It is not only a difficult book, but also a rich and provocative one. No other such work exists. It sets the standard against which any future contribution to the philosophical foundations of econometrics will be judged."--Kevin D. Hoover, Research in the History of Economic Thought & Methodology