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Ragnar Frisch's concept of econometrics was broader in scope than the more restricted connotation it has today as a sub … conference at Cowles Commission in 1937. He presented then a more general choice-field theory, the core of which was a system of …
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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 … to represent theory more adequately in relation to data? The evolution is organized in terms of four phases: 'theory and …
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