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Contemporary econometricians can be roughly divided into two camps: the 'Practical Men' on the one side and the 'Theorists' on the other. Which of the following statements best describes the 'Theorists' view?. Philosophy
Main page
Library
Philosophy
Contemporary econometricians can be roughly divided into two camps: the 'Practical Men' on the one side and the 'Theorists' on the other. Which of the following statements best describes the 'Theorists' view?
2019-08-06 08:33:17
Philosophy
Instrumental variables should never be used.
Instrumental variables are always unreliable.
Instrumental variables should be derived from a theory.
Instrumental variables can only be helpful for theory development.
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