Econometric Causality

James Heckman

No 3425, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper presents the econometric approach to causal modeling. It is motivated by policy problems. New causal parameters are defined and identified to address specific policy problems. Economists embrace a scientific approach to causality and model the preferences and choices of agents to infer subjective (agent) evaluations as well as objective outcomes. Anticipated and realized subjective and objective outcomes are distinguished. Models for simultaneous causality are developed. The paper contrasts the Neyman-Rubin model of causality with the econometric approach.

Keywords: subjective and objective evaluations; Neyman-Rubin model; Roy model; causality; econometrics; treatment effects; counterfactuals; anticipated vs. realized outcomes (search for similar items in EconPapers)
JEL-codes: B41 (search for similar items in EconPapers)
Pages: 55 pages
Date: 2008-03
New Economics Papers: this item is included in nep-cba and nep-ecm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (91)

Published - published in: International Statistical Review, 2008, (76) 1, 1-27

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Related works:
Journal Article: Econometric Causality (2008)
Working Paper: Econometric causality (2008)
Working Paper: Econometric Causality (2008)
Working Paper: Econometric Causality (2008)
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