Method choice in the history of econometrics: A decision criteria taxonomy and analysis of the report of econometricians' decision making across source materials

Abstract

This research considers scientific decision making, providing the first systematic study and explicit description of decision criteria employed by econometricians in method choice decisions. The documentation of econometric history is used as the source of information regarding method choice. Information from the histories is used to create a method choice taxonomy and a method choice database. Contingency tables are formed from the database and chi-square tests are run on hypotheses. The taxonomy reveals that econometricians base their method choice decisions on scientific, pragmatic, theoretical, metaphysical, and sociological factors. Statistical results suggest that econometricians' reports of the reasons for method choice vary depending upon the type of source in which the information is presented.

Citation

Madden, K.K. (2001), "Method choice in the history of econometrics: A decision criteria taxonomy and analysis of the report of econometricians' decision making across source materials", A Research Annual (Research in the History of Economic Thought and Methodology, Vol. 19), Emerald Group Publishing Limited, Leeds, pp. 1-31. https://doi.org/10.1016/S0743-4154(01)19003-6