Rescuing Econometrics - From Probability Approach to Probably Approximately Correct Learning

Haavelmo's The Probability Approach in Econometrics is 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.

List of contents

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

About the author

Duo Qin is Emeritus Professor of Economics at SOAS, University of London.

Product details

• Authors: Duo Qin, Qin Duo
• Publisher: Taylor & Francis Ltd.
• Languages: English
• Product format: Paperback / Softback
• Released: 27.05.2025
• EAN: 9781032586076
• ISBN: 978-1-0-3258607-6
• No. of pages: 100
• Series: Routledge INEM Advances in Economic Methodology
• Subjects: Humanities, art, music > Philosophy > General, dictionaries; Non-fiction book > Philosophy, religion > Miscellaneous; Social sciences, law, business > Business > Miscellaneous; BUSINESS & ECONOMICS / Econometrics, macroeconomics, Social & political philosophy, Economic theory & philosophy, social and political philosophy, Microeconomics, Econometrics, Economic theory and philosophy, Econometrics and economic statistics, Econometrics;Machine learning;Probability;Research