Introduction

Bernt P. Stigum
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Bernt P. Stigum: University of Oslo

A chapter in Econometrics and the Philosophy of Economics: Theory-Data Confrontations in Economics, 2015 from Princeton University Press

Abstract: This is a book about econometrics and the philosophy of economics, two topics that seem worlds apart. Econometrics is a study of good and bad ways to measure economic relations. Philosophy is a study of the nature of things and the principles governing human behavior. And the philosophy of economics is a study that searches for truth and knowledge about the part of reality that pertains to economic matters. This book will show that in economic theory-data confrontations the two topics are inextricably conjoined. Meaningful applied econometrics requires proper understanding of the purport of economic theory, and empirically relevant economic theorizing requires knowledge of the power of applied econometrics.

Keywords: economics; econometrics; philosophy; finance; theory; bayesian; classical; abstract; science (search for similar items in EconPapers)
Date: 2015
ISBN: 9780691168241
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