Econometric reduction theory and philosophy
Journal of Economic Methodology, 2010, vol. 17, issue 1, 53-75
Econometric reduction theory provides a comprehensive probabilistic framework for the analysis and classification of the reductions (simplifications) associated with empirical econometric models. However, the available approaches to econometric reduction theory are unable to satisfactorily accommodate a commonplace theory of social reality, namely that the course of history is indeterministic, that history does not repeat itself and that the future depends on the past. Using concepts from philosophy this paper proposes a solution to these shortcomings, which in addition permits new reductions, interpretations and definitions.
Keywords: theory of reduction; DGP; possible worlds; econometrics and philosophy (search for similar items in EconPapers)
References: Add references at CitEc
Citations View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
Working Paper: Econometric reduction theory and philosophy (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:taf:jecmet:v:17:y:2010:i:1:p:53-75
Ordering information: This journal article can be ordered from
Access Statistics for this article
Journal of Economic Methodology is currently edited by John Davis and D Wade Hands
More articles in Journal of Economic Methodology from Taylor & Francis Journals
Series data maintained by Chris Longhurst ().