Rescuing econometrics: (Record no. 8987)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02187 a2200205 4500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250323121711.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 250323b |||||||| |||| 00| 0 eng d |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| International Standard Book Number | 9781032586052 |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER | |
| Classification number | 330.015195 |
| Item number | QIN |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Qin, Duo |
| 245 ## - TITLE STATEMENT | |
| Title | Rescuing econometrics: |
| Remainder of title | from the probability approach to probably approximately correct learning |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Name of publisher, distributor, etc. | Routledge |
| Place of publication, distribution, etc. | London |
| Date of publication, distribution, etc. | 2024 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | xii, 100 p. |
| 365 ## - TRADE PRICE | |
| Price type code | GBP |
| Price amount | 145.00 |
| 490 ## - SERIES STATEMENT | |
| Series statement | Routledge INEM Advances in Economic Methodology |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Haavelmo’s 1944 monograph, The Probability Approach in Econometrics, is widely 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, with its attendant benefits.<br/><br/>Machine learning has only come into existence over recent decades, whereas the universally accepted and current form of econometrics has developed over the past century. A comparison between the two is, however, striking. The practical achievements of machine learning significantly outshine those of econometrics, confirming the presence of widespread inefficiencies in current econometric research. The relative efficiency of machine learning is based on its theoretical foundation, and particularly on the notion of Probably Approximately Correct (PAC) learning. Careful examination reveals that PAC learning theory delivers the goals of applied economic modelling research far better than Haavelmo’s probability approach. Econometrics should therefore renounce its outdated foundation, and rebuild itself upon PAC learning theory so as to unleash its pent-up research potential. The book is catered for applied economists, econometricians, economists specialising in the history and methodology of economics, advanced students, philosophers of social sciences.<br/><br/>(https://www.routledge.com/Rescuing-Econometrics-From-the-Probability-Approach-to-Probably-Approximately-Correct-Learning/Qin/p/book/9781032586052) |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economics |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Econometrics |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | Book |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Collection code | Bill No | Bill Date | Home library | Current library | Shelving location | Date acquired | Source of acquisition | Cost, normal purchase price | Total Checkouts | Full call number | Accession Number | Date last seen | Copy number | Cost, replacement price | Price effective from | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | Public Policy & General Management | IN32229 | 08-03-2025 | Indian Institute of Management LRC | Indian Institute of Management LRC | General Stacks | 03/18/2025 | Overseas Press India Private | 10565.43 | 330.015195 QIN | 007827 | 03/18/2025 | 1 | 16254.50 | 03/18/2025 | Book |