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Can Econometric Models Provide a Laboratory Setting for Economic Analysis?

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Tags KeynesEntrepreneurshipPhilosophy and Methodology

12/07/2023Frank Shostak

Econometric models are constructed with the idea that they can be substituted for authentic human action. Not surprisingly, they fail badly.

Original Article: Can Econometric Models Provide a Laboratory Setting for Economic Analysis?

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Frank Shostak's consulting firm, Applied Austrian School Economics, provides in-depth assessments of financial markets and global economies. Contact: email.

Original Article: 
Can Econometric Models Provide a Laboratory Setting for Economic Analysis?