Essays on the Structure of Social Science Models
Description
A set of related papers dealing with the meaning of causality in simulataneous dynamic equation systems. Investigation of the systems which only approximately satisfy the conditions enabling the definition of causality, leads to a set of limiting theorems concerning the dynamic behavior of such systems over time, and estimation procedures for the parameters of such systems. Implications of these theorems for some well-known propositions in economics and other social sciences are considered.
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Persons
Franklin M. Fisher is Jane Berkowitz Carlton and Dennis William Carlton Professor of Microeconomics, Emeritus, at MIT. He was the lead expert economist for the defense, assisted by John J. McGowan and Joen E. Greenwood of Charles River Associates, in the major antitrust case U.S. v. IBM. His collected essays have been published in Econometrics: Essays in Theory and Applications and in Industrial Organization, Economics and the Law.