Methodology and Tacit Knowledge Two Experiments in Econometrics

by Magnus, Jan R.; Morgan, Mary S.

• ISBN13: 9780471982975
• ISBN10: 0471982970
• Edition: 1st
• Format: Hardcover
• Copyright: 1999-05-04
• Publisher: WILEY

Summary

"Econometrics textbooks see their subject as a set of techniques; Magnus and Morgan see it as a set of practices. A combination of controlled experiment and anthropology of science, Methodology and Tacit Knowledge gives a rare inside view of how econometricians work, why econometrics is an art and not a set of simple recipes, and why, like all artists, econometricians differ in their techniques and finished works. This is economic methodology at its best." Kevin Hoover, University of California, Davis "The tacit knowledge experiment was a highly commendable initiative. Its exploration of the theme of how knowledge is acquired and used in applied econometrics is unique and produced some fascinating insights into this process." Adrian Pagan, Australian National University "It is rare, perhaps unique, to find leading empirical economists face the prospect of modelling the same phenomena, with the same data within the same limited time frame. A valuable and illuminating experiment in comparative research methodologies, made all the more provocative when compared to the excellent original study by Tobin." Richard Blundell, University College London This book will be of considerable interest to economists and to econometricians concerned about the methodology of their own discipline, and will provide valuable material for researchers in science studies and for teachers of econometrics.

Author Biography

Jan R. Magnus is the author of Methodology and Tacit Knowledge: Two Experiments in Econometrics, published by Wiley.

Mary S. Morgan FBA FRDAAS, is Professor of the History of Economics in the London School of Economics since 1999. She graduated from the London School of Economics a Bachelor of Science in Economics in 1978 and a Doctor of Philosophy in 1984.

Table of Contents

Acknowledgements	vii
List of Contributors	ix
Introduction: Applied Econometrics and Design of Two Experiments	1	(10)
Jan R. Magnus
Mary S. Morgan
Part I The Field Trial Experiment	11	(298)
Organization of the Field Trial Experiment	13	(10)
Jan R. Magnus
Mary S. Morgan
A Statistical Demand Function for Food in the USA	23	(44)
James Tobin
On the Correspondence Between Individual and Aggregate Food Consumption Functions: Evidence from the USA and the Netherlands	67	(32)
Heather M. Anderson
Farshid Vahid
The Demand for Food in the United States and the Netherlands: a Systems Approach with the CBS Model	99	(24)
Hans van Driel
Venuta Nadall
Kees Zeelenberg
Revisiting Tobin's 1950 Study of Food Expenditure	123	(30)
Edward E. Leamer
Empirical Econometric Modelling of Food Consumption Using a New Informational Complexity Approach	153	(30)
Peter M. Bearse
Hamparsum Bozdogan
Alan M. Schlottmann
A Comparative Study of Modelling the Demand for Food in the United States and the Netherlands	183	(22)
Haiyan Song
Xiaming Liu
Peter Romilly
Statistical Demand Functions for Food in the USA and the Netherlands	205	(32)
Denis de Crombrugghe
Franz C. Palm
Jean-Pierre Urbain
The Dynamics and Statics of Food Consumption: Tobin Revisited	237	(14)
Rune Hoglund
Markus Jantti
Johan Knif
Leif Nordberg
Gunnar Rosenqvist
Tobin's Study on the Demand of Food in the US Revisited: an Examination of the Issue of Pooling Information from Budget Studies and Time Series	251	(14)
G. S. Maddala
Shaowen Wu
Yong Yin
My 1950 Food Demand Study in Retrospect	265	(4)
James Tobin
Comparative Assessments of the Field Trial Experiment	269	(16)
Anton P. Barten
J. S. Cramer
M. Hashem Pesaran
Peter Schmidt
Michael R. Wickens
Analysis of the Field Trial Experiment	285	(16)
Jan R. Magnus
Wiebe K. Siegert
Lessons from the Field Trial Experiment	301	(8)
Jan R. Magnus
Mary S. Morgan
Part II The Tacit Knowledge Experiment	309	(2)
Organization of the Tacit Knowledge Experiment	311	(4)
Jan R. Magnus
Mary S. Morgan
An Application of Three Econometric Methodologies to the Estimation of the Income Elasticity of Food Demand	315	(26)
Wiebe K. Siegert
An Econometric Analysis of US Food Expenditure, 1931-1989	341	(22)
David F. Hendry
Is this How I Look?	363	(6)
Edward E. Leamer
The Tilburg Experiments: Impressions of a Drop-Out	369	(6)
Adrian R. Pagan
Lessons from the Tacit Knowledge Experiment	375	(10)
Jan R. Magnus
Mary S. Morgan
Part III The Data
Description of the US Data	385	(16)
Jan R. Magnus
Mary S. Morgan
Description of the Dutch Data	401
Jan R. Magnus
Mary S. Morgan