Theory vs Measurement

Francis Diebold, Professor of Economics and Statistics at the University of Pennsylvania, challenges us in his 60-second lecture to consider that: “[…] theory gets too much respect, and measurement doesn’t get enough. Perhaps that will change in the emerging age of Big Data.”

Will we succeed in using Economics to transform Big Data Analytics, so it becomes less of a data mining technique and more of an Econometric tool?

Advertisements
Video

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s