Probability, econometrics and truth : the methodology of econometrics / Hugo A. Keuzenkamp.

Format:

Book

Author/Creator:

Keuzenkamp, Hugo A., author.

Language:

English

Subjects (All):

Econometrics.

Probabilities.

Physical Description:

1 online resource (ix, 312 pages) : digital, PDF file(s).

Edition:

1st ed.

Other Title:

Probability, Econometrics & Truth

Place of Publication:

Cambridge : Cambridge University Press, 2000.

Summary:

When John Maynard Keynes likened Jan Tinbergen's early work in econometrics to black magic and alchemy, he was expressing a widely held view of a new discipline. However, even after half a century of practical work and theorizing by some of the most accomplished social scientists, Keynes' comments are still repeated today. This book assesses the foundations and development of econometrics and sets out a basis for the reconstruction of the foundations of econometric inference by examining the various interpretations of probability theory which underlie econometrics. Keuzenkamp claims that the probabilistic foundations of econometrics are weak, and although econometric inferences may yield interesting knowledge, claims to be able to falsify or verify economic theories are unwarranted. Methodological falsificationism in econometrics is an illusion. Instead, it is argued, econometrics should locate itself in the tradition of positivism.

Contents:

The philosophy of induction

Probability and indifference

Intermezzo: a formal scheme of reference.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references (p. 281-298) and index.

ISBN:

1-107-11285-0

1-280-15196-X

0-511-11632-2

0-511-01579-8

0-511-15602-2

0-511-32902-4

0-511-49330-4

0-511-05330-4

OCLC:

559217031