The effectiveness of one aspect of the London School of Economics (LSE) approach to econometrics is assessed in a simulation study. The paper uses a data set and nine models analogous to those in Lovell''s (1983) study of data mining. A simplified general-to-specific algorithm is tested in a...

Starting with a realist ontology the economic methodologist, Tony Lawson, argues that econometrics is a failed project. Apparently more sympathetic to econometrics, the philosopher of science, Nancy Cartwright, again from a realist perspective, nonetheless argues for conditions of applicability...

'Data mining' refers to a broad class of activities that have in common, a search over different ways to process or package data statistically or econometrically with the purpose of making the final presentation meet certain design criteria. We characterize three attitudes toward data mining:...