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Experimental data exhibit considerable individual heterogeneity. We review the econometric methods employed to characterize that heterogeneity. We pay particular attention to the trade-off between collecting and allowing for observable characteristics, such as the familiar demographics, and the...
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It is intuitive that decision-makers might have attitudes towards uncertainty just as they might have attitudes towards risk. However, it is only recently that this intuitive notion has been formalized and axiomatically characterized. We estimate the extent of uncertainty aversion in a manner...
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Measurement forms the substance of econometrics. This chapter outlines the history of econometrics from a measurement … perspective - how have measurement errors been dealt with and how, from a methodological standpoint, did econometrics evolve so as …
Persistent link: https://www.econbiz.de/10003407670
This paper examines the history of econometrics through a particular case study - modelling the tradeoff between … different concerns and the different problems that they encountered has fed back into the development of econometrics. The study … reveals that much of the interaction between econometrics and economics involved modellers taking certain tradeoffs between …
Persistent link: https://www.econbiz.de/10003933933
, relating them to Frisch's later works and, more important, to subsequent developments in economics and econometrics. -- History … of econometrics …
Persistent link: https://www.econbiz.de/10003990421
This study examines the evolution of econometric research in business cycle analysis during the 1960-90 period. It shows how the research was dominated by an assimilation of the tradition of NBER business cycle analysis by the Haavelmo-Cowles Commission approach, catalysed by time-series...
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