Econometric Methods for the Analysis of Assignment Problems in the Presence of Complementarity and Social Spillovers

2011 ◽  
pp. 965-1052 ◽  
Author(s):  
Bryan S. Graham
2012 ◽  
pp. 82-95 ◽  
Author(s):  
D. Foley

Mathematical methods are only one moment in a layered process of theory generation in political economy, which starts from Schumpeterian vision, progresses to the identification of relevant abstractions, the development of mathematical and quantitative models, and the confrontation of theories with empirical data through statistical methods. But today the relevant abstract problems of political economy are modified to fit available mathematical tools. The role of empirical research in disciplining theoretical speculation, on which the scientific traditions integrity rests, was undermined by specific limitations of nascent econometric methods, and usurped by ex cathedra methodological fiats of theorists. These developmentssystematically favored certain ideological predispositions of economicsas a discipline. There is abundant room for New Thinking in political economy starting from the vision of the capitalist economy as a complex, adaptive system far from equilibrium, including the development of the theory of statistical fluctuations for economic interactions, redirection of macroeconomics and financial economics from path prediction toward an understanding of the qualitative properties of the system, introduction of constructive and computable methods into economic modeling, and the critical reconstruction of econometric statistical methods.


2008 ◽  
pp. 4-19 ◽  
Author(s):  
A. Libman

The last decades witnessed the increasing importance of econometric methods and empirical research in economics. The success of the empirical turn in economics depends on the formats and problems of communication between theory and empirics. The paper considers potential difficulties in communication "from the theory to empirical research" and "from empirical research to theory". It analyzes the role of informal consensus as an instrument facilitating such communication and potential impact of this consensus on the direction of research.


Author(s):  
Yacine Aït-Sahalia ◽  
Jean Jacod

High-frequency trading is an algorithm-based computerized trading practice that allows firms to trade stocks in milliseconds. Over the last fifteen years, the use of statistical and econometric methods for analyzing high-frequency financial data has grown exponentially. This growth has been driven by the increasing availability of such data, the technological advancements that make high-frequency trading strategies possible, and the need of practitioners to analyze these data. This comprehensive book introduces readers to these emerging methods and tools of analysis. The book covers the mathematical foundations of stochastic processes, describes the primary characteristics of high-frequency financial data, and presents the asymptotic concepts that their analysis relies on. It also deals with estimation of the volatility portion of the model, including methods that are robust to market microstructure noise, and address estimation and testing questions involving the jump part of the model. As the book demonstrates, the practical importance and relevance of jumps in financial data are universally recognized, but only recently have econometric methods become available to rigorously analyze jump processes. The book approaches high-frequency econometrics with a distinct focus on the financial side of matters while maintaining technical rigor, which makes this book invaluable to researchers and practitioners alike.


2019 ◽  
pp. 5-22
Author(s):  
Szymon Buczyński

Recent technological revolutions in data and communication systemsenable us to generate and share data much faster than ever before. Sophisticated data tools aim to improve knowledge and boost confdence. That technological tools will only get better and user-friendlier over the years, big datacan be considered an important tool for the arts and culture sector. Statistical analysis, econometric methods or data mining techniques could pave theway towards better understanding of the mechanisms occurring on the artmarket. Moreover crime reduction and prevention challenges in today’sworld are becoming increasingly complex and are in need of a new techniquethat can handle the vast amount of information that is being generated. Thisarticle provides an examination of a wide range of new technological innovations (IT) that have applications in the areas of culture preservation andheritage protection. The author provides a description of recent technological innovations, summarize the available research on the extent of adoptionon selected examples, and then review the available research on the eachform of new technology. Furthermore the aim of this paper is to explore anddiscuss how big data analytics affect innovation and value creation in cultural organizations and shape consumer behavior in cultural heritage, arts andcultural industries. This paper discusses also the likely impact of big dataanalytics on criminological research and theory. Digital criminology supports huge data base in opposition to conventional data processing techniques which are not only in suffcient but also out dated. This paper aims atclosing a gap in the academic literature showing the contribution of a bigdata approach in cultural economics, policy and management both froma theoretical and practice-based perspective. This work is also a startingpoint for further research.


Sign in / Sign up

Export Citation Format

Share Document