Can econometric analysis make (agricultural) economics a hard science? Critical remarks and implications for economic methodology

Arbeitspapier

This paper argues that mainstream economics does not follow the positivist research tradition it (often implicitly) claims to follow and expresses some serious doubt that econometrics in particular can make economics a hard science. Mathematical rigour and sophisticated statistical techniques may be regarded as persuasive analytical tools in economics, but their mere application does not guarantee good research practice. The paper outlines an alternative methodological view of pragmatic instrumentalism in which the well known tools of economic analysis can find a new place. Instead of relying on a narrow rule that purports to produce universal truth, this view encourages to increase the target area for questioning and probing. Much more attention is paid to the communicative aspects of scientific methodology - in which terms an analysis is framed, and under what conditions, to whom, by whom, and by which means it is articulated.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Discussion Paper ; No. 62

Classification and Topics

• Classification: Wirtschaft ; Economic Methodology ; Econometric and Statistical Methods and Methodology: General
• Subject: Methoden der Wirtschaftswissenschaften ; Ökonometrie ; Wissenschaftstheorie ; pragmatischer Instrumentalismus ; economic method ; econometrics ; philosophy of science ; pragmatic instrumentalism ; Wissenschaftliche Methode ; Ökonometrie ; Agrarökonomik ; Theorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Petrick, Martin
• Event: Veröffentlichung
• (who): Institute of Agricultural Development in Central and Eastern Europe (IAMO)
• (where): Halle (Saale)
• (when): 2004

Further information

• Handle: http://hdl.handle.net/10419/23950
• URN: urn:nbn:de:gbv:3:2-22243
• Last update: 10.03.2025, 11:42 AM CET