1st Edition
Rescuing Econometrics From the Probability Approach to Probably Approximately Correct Learning
By Duo Qin
Copyright 2024
112 Pages
3 B/W Illustrations
by
Routledge
112 Pages
3 B/W Illustrations
by
Routledge
112 Pages
3 B/W Illustrations
by
Routledge
Also available as eBook on:
Haavelmo’s 1944 monograph, The Probability Approach in Econometrics , is widely acclaimed as the manifesto of econometrics. This book challenges Haavelmo’s probability approach, shows how its use is delivering defective and inefficient results, and argues for a paradigm shift in econometrics towards a full embrace of machine learning, with its attendant benefits.
Machine learning has only come... Read more
1. Abstract Modelling of Reality 2. Learnability of Economic Relations 3. Basic Functions of Probability in Econometrics 4. Roles of Hypothesis Testing and Economic Model Formulation 5. Problems and Potentials of Estimation 6. Cognitive Problems of Prediction
Biography
Duo Qin is Emeritus Professor of Economics at SOAS, University of London.
