(Also drawing from Prof.Pohlmeier's lecture notes.)
What econometricians are doing seems to be just a problem of optimization, optimizing prediction by choosing among different predictors, and based on different criteria of optimum. Analogies can be made with microeconomic optimization problems. I wonder whether there can be an analogous concept of equilibrium in econometrics, e.g.equilibrium of prediction
The optimization part can actually explain for modeler's particular interests in linear functions/regressions, whether a mathematical modeler or statistical one.
What econometricians are doing seems to be just a problem of optimization, optimizing prediction by choosing among different predictors, and based on different criteria of optimum. Analogies can be made with microeconomic optimization problems. I wonder whether there can be an analogous concept of equilibrium in econometrics, e.g.equilibrium of prediction
The optimization part can actually explain for modeler's particular interests in linear functions/regressions, whether a mathematical modeler or statistical one.
No comments:
Post a Comment