Econometrics — science based on unwarranted assumptions

Created
Mon, 03/07/2023 - 23:43
Updated
Mon, 03/07/2023 - 23:43
Unfortunately, assumption uncertainty reduces the status of deductions and statistical computations to exercises in hypothetical reasoning – they provide best-case scenarios of what we could infer from specific data. Even more unfortunate, however, is that this exercise is deceptive to the extent it ignores or misrepresents available information, and makes hidden assumptions that are unsupported […]

Tags