[OPE-L:2223] Re: Empirical

Allin Cottrell (cottrell@wfu.edu)
Wed, 15 May 1996 05:58:40 -0700

[ show plain text ]

I look forward to the sort of discussion that Alan suggests
for the next EEA value session. Certainly there are some
tricky methodological issues involved.

As one precondition for a truly useful discussion, however,
I would urge Alan (and others) carefully to reread Farjoun
and Machover. Their stochastic formulation of the issue is
very clear, and when Alan says he doesn't think the sort of
work under discussion "proves that unit prices are empirically
indistinguishable from unit values" he is, IMO, definitely
after a straw man.

> >Alan's objection to the 'Shaikh methodology'.
> This term worries me. I don't object to anything called the Shaikh
> methodology. This is a pedantic point but for me it's a sensitive one.

I didn't intend to personalize the issue. I called the correlation
business the Shaikh methodology after the article by Shaikh that
appeared in the volume Alan and Ernest Mandel edited, which was, to
my knowledge, the first full statement of the relevant procedure,
which has been followed pretty closely by most researchers since
then. I don't object to a more impersonal appellation.