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Trygve Haavelmo's methodological manifesto "The Probability Approach in Econometrics" not only laid down the paradigm for the research pursued at the Cowles Commission, but also sets out a strategy for measurement outside the laboratory. His conceptualization of "passive observation" is still...
Persistent link: https://www.econbiz.de/10014197940
This survey is written to show historians of economics what is happening in history of econometrics, and is the second survey I did with this aim. The first survey, published in 2011, concluded that interest in the history of econometrics has arisen primarily from within econometrics itself and...
Persistent link: https://www.econbiz.de/10012907001
Mathematical molding disappeared in the changeover from methods to specify causal mechanisms of business cycles to methods to identify economic structures, that is, invariant relationships underlying the workings of an economy. Mathematical molding could fulfill its role in modeling business...
Persistent link: https://www.econbiz.de/10014172777
Mathematical models are instruments of investigation, epistemological equivalent to the microscope and the telescope. In comparing the epistemological difference between models and experiments, Morgan (2005) argues that experiments offer greater epistemic power than models as a means to...
Persistent link: https://www.econbiz.de/10014186657
Understanding the history of econometrics as a modern science also asks for understanding of the development of the image of science, which includes the history of philosophy of science and the history of economic methodology. Beside that philosophers of science need to be historically informed,...
Persistent link: https://www.econbiz.de/10013130997