Please use this identifier to cite or link to this item:
|Title:||Economies, history, and causation||Authors:||Morek, R.
|Issue Date:||2011||Citation:||Morek, R., Yeung, B. (2011). Economies, history, and causation. Business History Review 85 (1) : 39-63. ScholarBank@NUS Repository. https://doi.org/10.1017/S000768051100002X||Abstract:||Economies and history both strive to understand causation: economics by using instrumental variables econometrics, and history by weighing the plausibility of alternative narratives. Instrumental variables can lose value with repeated use because of an econometric tragedy of the commons: each successful use of an instrument creates an additional latent variable problem for all other uses of that instrument. Economists should therefore consider historians' approach to inferring causality from detailed context, the plausibility of alternative narratives, external consistency, and recognition that free will makes human decisions intrinsically exogenous. © 2011 The President and Fellows of Harvard College.||Source Title:||Business History Review||URI:||http://scholarbank.nus.edu.sg/handle/10635/44386||ISSN:||00076805||DOI:||10.1017/S000768051100002X|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Jan 17, 2020
WEB OF SCIENCETM
checked on Jan 9, 2020
checked on Dec 30, 2019
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.