Do Value Judgements Affect Testing Economic Theory

Do Value Judgements Affect Testing Economic Theory Analyses the influence of value judgements in the mechanics oftesting econometric theories against empirical data. The orthodox viewof mainstream, positive economics is that value judgements play no partin the above process. Contests this view defines value judgements andshows the orthodox conception to be too narrow, compared with themeaning and use of the term in other disciplines. Reviews many publishedexamples from the 1970s and 1980s and ways in which value judgementshave affected testing procedures in economics. Hypothesis testing viaeconometric techniques is fraught with value judgements because theapplication of statistical methodology is not a determinate, neutral orobjective process. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

Do Value Judgements Affect Testing Economic Theory

International Journal of Social Economics, Volume 19 (2): 19 – Feb 1, 1992

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0306-8293
DOI
10.1108/EUM0000000000478
Publisher site
See Article on Publisher Site

Abstract

Analyses the influence of value judgements in the mechanics oftesting econometric theories against empirical data. The orthodox viewof mainstream, positive economics is that value judgements play no partin the above process. Contests this view defines value judgements andshows the orthodox conception to be too narrow, compared with themeaning and use of the term in other disciplines. Reviews many publishedexamples from the 1970s and 1980s and ways in which value judgementshave affected testing procedures in economics. Hypothesis testing viaeconometric techniques is fraught with value judgements because theapplication of statistical methodology is not a determinate, neutral orobjective process.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: Feb 1, 1992

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