
Contents
-
-
-
-
-
2.1 Frisch and Haavelmo’s Vision of a Science of Economics 2.1 Frisch and Haavelmo’s Vision of a Science of Economics
-
2.2 A Formal Unitary Methodological Basis for the Science of Economics 2.2 A Formal Unitary Methodological Basis for the Science of Economics
-
2.2.1 Modeling Theory-Data Confrontations in Econometrics 2.2.1 Modeling Theory-Data Confrontations in Econometrics
-
2.2.2 Theory-Data Confrontations with Two Disjoint Universes and a Bridge 2.2.2 Theory-Data Confrontations with Two Disjoint Universes and a Bridge
-
The Data Universe The Data Universe
-
E2.2.1 E2.2.1
-
The Theory Universe The Theory Universe
-
E2.2.2 E2.2.2
-
The Bridge The Bridge
-
E2.2.3 E2.2.3
-
E2.2.4 E2.2.4
-
The MPD The MPD
-
E2.2.5 E2.2.5
-
E2.2.6 E2.2.6
-
The MPD, a New Data Universe, and the Conditional Measure P(·|Ω) on (ΩP, ℵP) The MPD, a New Data Universe, and the Conditional Measure P(·|Ω) on (ΩP, ℵP)
-
E2.2.7 E2.2.7
-
The Contrast: Empirical Analyses in the Two Data Universes The Contrast: Empirical Analyses in the Two Data Universes
-
E2.2.9 E2.2.9
-
T1 T1
-
The Bridge The Bridge
-
The MPD and the PM(·) measure on (Ω, ℵP) The MPD and the PM(·) measure on (Ω, ℵP)
-
T3 T3
-
T2.3 T2.3
-
-
2.2.3 Frisch and Haavelmo’s Unitary Methodological Bases for the Science of Economics 2.2.3 Frisch and Haavelmo’s Unitary Methodological Bases for the Science of Economics
-
-
2.3 A Riddle and Its Resolution 2.3 A Riddle and Its Resolution
-
2.3.1 The Resolution 2.3.1 The Resolution
-
APT APT
-
-
-
2.4 Concluding Remarks 2.4 Concluding Remarks
-
-
-
-
-
-
-
-
-
-
-
2 A Vision of a Science of Economics
Get access-
Published:December 2014
Cite
Abstract
The chapter presents Ragnar Frisch and Trygve Haavelmo’s vision of a science of economics, explicates in simple terms the meaning of a formal theory-data confrontation, and describes and resolves an interesting riddle in applied econometrics. Frisch and Haavelmo’s idea of a unified theoretical-quantitative and empirical-quantitative approach to economic problems can be realized in two ways. In one the researcher identifies his theory variables with Haavelmo’s true variables and carries out his empirical analysis the way present-day econometricians do. In the other the researcher identifies his theory variables with variables in Frisch’s model world and carries out his empirical analysis the way formal econometrics prescribes. As exemplified in a formal data confrontation of a simultaneous-equations model of a perfectly competitive commodity market, the empirical analyses in the two scenarios may end in different descriptions of the dynamics of data variables and yield different statistical inferences about social reality. The chapter concludes with a discussion of the mentioned riddle in applied econometrics. The riddle elicits a clear view of the kind of knowledge about social reality that an applied econometrician can obtain.
Sign in
Personal account
- Sign in with email/username & password
- Get email alerts
- Save searches
- Purchase content
- Activate your purchase/trial code
- Add your ORCID iD
Purchase
Our books are available by subscription or purchase to libraries and institutions.
Purchasing informationMonth: | Total Views: |
---|---|
August 2024 | 1 |
Get help with access
Institutional access
Access to content on Oxford Academic is often provided through institutional subscriptions and purchases. If you are a member of an institution with an active account, you may be able to access content in one of the following ways:
IP based access
Typically, access is provided across an institutional network to a range of IP addresses. This authentication occurs automatically, and it is not possible to sign out of an IP authenticated account.
Sign in through your institution
Choose this option to get remote access when outside your institution. Shibboleth/Open Athens technology is used to provide single sign-on between your institution’s website and Oxford Academic.
If your institution is not listed or you cannot sign in to your institution’s website, please contact your librarian or administrator.
Sign in with a library card
Enter your library card number to sign in. If you cannot sign in, please contact your librarian.
Society Members
Society member access to a journal is achieved in one of the following ways:
Sign in through society site
Many societies offer single sign-on between the society website and Oxford Academic. If you see ‘Sign in through society site’ in the sign in pane within a journal:
If you do not have a society account or have forgotten your username or password, please contact your society.
Sign in using a personal account
Some societies use Oxford Academic personal accounts to provide access to their members. See below.
Personal account
A personal account can be used to get email alerts, save searches, purchase content, and activate subscriptions.
Some societies use Oxford Academic personal accounts to provide access to their members.
Viewing your signed in accounts
Click the account icon in the top right to:
Signed in but can't access content
Oxford Academic is home to a wide variety of products. The institutional subscription may not cover the content that you are trying to access. If you believe you should have access to that content, please contact your librarian.
Institutional account management
For librarians and administrators, your personal account also provides access to institutional account management. Here you will find options to view and activate subscriptions, manage institutional settings and access options, access usage statistics, and more.