Econometric causality

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Title: Econometric causality
Authors: Heckman, James J.
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Date: 15-Dec-2008
Abstract: This paper presents the econometric approach to causal modeling. It is motivated by policy problems. New causal parameters are defined and identified to address specific policy problems. Economists embrace a scientific approach to causality and model the preferences and choices of agents to infer subjective (agent) evaluations as well as objective outcomes. Anticipated and realized subjective and objective outcomes are distinguished. Models for simultaneous causality are developed. The paper contrasts the Neyman–Rubin model of causality with the econometric approach.
Type of material: Working Paper
Publisher: University College Dublin. Geary Institute
Series/Report no.: UCD Geary Institute Discussion Paper Series; WP/26/2008
Keywords: CausalityEconometricsRoy modelNeyman–Rubin modelCubjective and objective evaluationsAnticipated vs. realized outcomesCounterfactualsTreatment effects
Subject LCSH: Causation--Econometric models
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Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Working Papers

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