**Next message:**Andrew Brown: "[OPE-L:6203] Re: Lawson/DAE"**Previous message:**Gerald_A_Levy: "[OPE-L:6201] Re: econometrics"**Messages sorted by:**[ date ] [ thread ] [ subject ] [ author ]

Historically, it was Keynesian and institutional economics that gave rise to the intensive use of econometrics and statistical collection. In more recent times, i.e., post mid-1960s, neoclassicals have designed many large data sets, e.g., the panel study on income dynamics is essentially a dataset designed to test the predictions the predictions of human capital theory. Evolutionary game theory can certainly be combined with both econometrics and Marxian analysis. I have working paper that does this. No statistical procedure can be used to settle a theoretical debate. Theory "proves" or "disproves." All statistical analysis can do is affirm or disaffirm the expected correlations, or the substantive and statistical significance of a particular correlation. peace, patrick At 11:37 PM 11/18/01 -0500, you wrote: >On Sun, 18 Nov 2001, michael perelman wrote: > > > I tried to show one of the problems with Marxian econometrics. > > > > www.ucm.es/wwwboard/bas/messages/246.htm > >Eh? This is Spanish-language get-rich-quick Internet spam. What is >the relevance? > >Like Patrick, I think econometrics is not really optional. In the >broad sense (that used by the founders of the Econometric Society in >the 1930s) econometrics is simply quantitative economic analysis. In >the somewhat narrower sense that the term 'econometrics' has acquired >since WWII, it is quantitative analysis based on probability theory, >or more specifically the theory of statistical inference as elaborated >by Bayes, Neyman and Pearson, and R.A. Fisher (there are differences >between these three approaches but modern econometrics comprises them >all). I don't say that these theories are beyond question, but in the >last half-century nobody has proposed any alternative paradigm for >testing/quantifying theory against non-experimental data. They are, >collectively, the only game in town. > >I don't see any inherent connection between neoclassical economic >theory and econometrics. They just "happen to go together" in that >neoclassical theory has been dominant in the period since econometrics >came to maturity; it has therefore provided most of the hypotheses >that econometricians have wanted to test. > >Jerry mentioned some "other approaches" to quantitative analysis, >including input-output analysis and "chaos theory". These are of >interest but they are not in competition with econometrics; they are >both theoretical frameworks rather than methodologies for empirical >analysis as such. > >Allin Cottrell.

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