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Contextual Equivalence
Observational equivalence is the property of two or more underlying entities being indistinguishable on the basis of their observable implications. Thus, for example, two scientific theories are observationally equivalent if all of their empirically testable predictions are identical, in which case empirical evidence cannot be used to distinguish which is closer to being correct; indeed, it may be that they are actually two different perspectives on one underlying theory. In econometrics, two parameter values (or two ''structures,'' from among a class of statistical models) are considered observationally equivalent if they both result in the same probability distribution of observable data. This term often arises in relation to the identification problem. In macroeconomics, it happens when you have multiple structural models, with different interpretation, but indistinguishable empirically. "the mapping between structural parameters and the objective function may not display a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Observable
In physics, an observable is a physical property or physical quantity that can be measured. In classical mechanics, an observable is a real-valued "function" on the set of all possible system states, e.g., position and momentum. In quantum mechanics, an observable is an operator, or gauge, where the property of the quantum state can be determined by some sequence of operations. For example, these operations might involve submitting the system to various electromagnetic fields and eventually reading a value. Physically meaningful observables must also satisfy transformation laws that relate observations performed by different observers in different frames of reference. These transformation laws are automorphisms of the state space, that is bijective transformations that preserve certain mathematical properties of the space in question. Quantum mechanics In quantum mechanics, observables manifest as self-adjoint operators on a separable complex Hilbert space ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scientific Theory
A scientific theory is an explanation of an aspect of the universe, natural world that can be or that has been reproducibility, repeatedly tested and has corroborating evidence in accordance with the scientific method, using accepted protocol (science), protocols of observation, measurement, and evaluation of results. Where possible, theories are tested under controlled conditions in an experiment. In circumstances not amenable to experimental testing, theories are evaluated through principles of abductive reasoning. Established scientific theories have withstood rigorous scrutiny and embody scientific knowledge. A scientific theory differs from a scientific fact: a fact is an observation and a theory organizes and explains multiple observations. Furthermore, a theory is expected to make predictions which could be confirmed or refuted with addition observations. Stephen Jay Gould wrote that "...facts and theories are different things, not rungs in a hierarchy of increasing certai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empirical
Empirical evidence is evidence obtained through sense experience or experimental procedure. It is of central importance to the sciences and plays a role in various other fields, like epistemology and law. There is no general agreement on how the terms ''evidence'' and ''empirical'' are to be defined. Often different fields work with quite different conceptions. In epistemology, evidence is what justifies beliefs or what determines whether holding a certain belief is rational. This is only possible if the evidence is possessed by the person, which has prompted various epistemologists to conceive evidence as private mental states like experiences or other beliefs. In philosophy of science, on the other hand, evidence is understood as that which '' confirms'' or ''disconfirms'' scientific hypotheses and arbitrates between competing theories. For this role, evidence must be public and uncontroversial, like observable physical objects or events and unlike private mental states, so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Testable
Testability is a primary aspect of science and the scientific method. There are two components to testability: #Falsifiability or defeasibility, which means that counterexamples to the hypothesis are logically possible. #The practical feasibility of observing a reproducible series of such counterexamples if they do exist. In short, a hypothesis is testable if there is a possibility of deciding whether it is true or false based on experimentation by anyone. This allows anyone to decide whether a theory can be supported or refuted by data. However, the interpretation of experimental data may be also inconclusive or uncertain. Karl Popper introduced the concept that scientific knowledge had the property of falsifiability as published in '' The Logic of Scientific Discovery''.Karl Popper "The Logic of Scientific Discovery", 1934 (as ''Logik der Forschung'', English translation 1959), ISBN 0415278449 and 2002 ISBN 9780415278447, 0415278449 See also * Confirmability * Controlla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometrics
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics", '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8–22 Reprinted in J. Eatwell ''et al.'', eds. (1990). ''Econometrics: The New Palgrave''p. 1 p. 1–34Abstract ( 2008 revision by J. Geweke, J. Horowitz, and H. P. Pesaran). More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships." Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today. A basic tool for econometrics is the multiple linear regression model. ''Econome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Probability Distribution
In probability theory and statistics, a probability distribution is a Function (mathematics), function that gives the probabilities of occurrence of possible events for an Experiment (probability theory), experiment. It is a mathematical description of a Randomness, random phenomenon in terms of its sample space and the Probability, probabilities of Event (probability theory), events (subsets of the sample space). For instance, if is used to denote the outcome of a coin toss ("the experiment"), then the probability distribution of would take the value 0.5 (1 in 2 or 1/2) for , and 0.5 for (assuming that fair coin, the coin is fair). More commonly, probability distributions are used to compare the relative occurrence of many different random values. Probability distributions can be defined in different ways and for discrete or for continuous variables. Distributions with special properties or for especially important applications are given specific names. Introduction A prob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parameter Identification Problem
In economics and econometrics, the parameter identification problem arises when the value of one or more parameters in an economic model cannot be determined from observable variables. It is closely related to non-identifiability in statistics and econometrics, which occurs when a statistical model has more than one set of parameters that generate the same distribution of observations, meaning that multiple parameterizations are observationally equivalent. For example, this problem can occur in the estimation of multiple-equation econometric models where the equations have variables in common. In simultaneous equations models Standard example, with two equations Consider a linear model for the supply and demand of some specific good. The quantity demanded varies negatively with the price: a higher price decreases the quantity demanded. The quantity supplied varies directly with the price: a higher price increases the quantity supplied. Assume that, say for several years, we ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macroeconomics
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output (economics), output/Gross domestic product, GDP (gross domestic product) and national income, unemployment (including Unemployment#Measurement, unemployment rates), price index, price indices and inflation, Consumption (economics), consumption, saving, investment (macroeconomics), investment, Energy economics, energy, international trade, and international finance. Macroeconomics and microeconomics are the two most general fields in economics. The focus of macroeconomics is often on a country (or larger entities like the whole world) and how its markets interact to produce large-scale phenomena that economists refer to as aggregate variables. In microeconomics the focus of analysis is often a single market, such as whether changes in supply or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Formal Semantics Of Programming Languages
In programming language theory, semantics is the rigorous mathematical study of the meaning of programming languages. Semantics assigns computational meaning to valid string (computer science), strings in a programming language syntax. It is closely related to, and often crosses over with, the Semantics of logic, semantics of mathematical proofs. Semantics describes the processes a computer follows when Execution (computing), executing a program in that specific language. This can be done by describing the relationship between the input and output of a program, or giving an explanation of how the program will be executed on a certain computer platform, platform, thereby creating a model of computation. History In 1967, Robert W. Floyd published the paper ''Assigning meanings to programs''; his chief aim was "a rigorous standard for proofs about computer programs, including formal verification, proofs of correctness, equivalence, and termination". Floyd further wrote: A semant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Term (logic)
In mathematical logic, a term denotes a mathematical object while a formula denotes a mathematical fact. In particular, terms appear as components of a formula. This is analogous to natural language, where a noun phrase refers to an object and a whole sentence refers to a fact. A first-order term is recursively constructed from constant symbols, variable symbols, and function symbols. An expression formed by applying a predicate symbol to an appropriate number of terms is called an atomic formula, which evaluates to true or false in bivalent logics, given an interpretation. For example, is a term built from the constant 1, the variable , and the binary function symbols and ; it is part of the atomic formula which evaluates to true for each real-numbered value of . Besides in logic, terms play important roles in universal algebra, and rewriting systems. Definition Given a set ''V'' of variable symbols, a set ''C'' of constant symbols and sets ''F''''n'' of ''n''-ary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James H
James may refer to: People * James (given name) * James (surname) * James (musician), aka Faruq Mahfuz Anam James, (born 1964), Bollywood musician * James, brother of Jesus * King James (other), various kings named James * Prince James (other) * Saint James (other) Places Canada * James Bay, a large body of water * James, Ontario United Kingdom * James College, a college of the University of York United States * James, Georgia, an unincorporated community * James, Iowa, an unincorporated community * James City, North Carolina * James City County, Virginia ** James City (Virginia Company) ** James City Shire * James City, Pennsylvania * St. James City, Florida Film and television * ''James'' (2005 film), a Bollywood film * ''James'' (2008 film), an Irish short film * ''James'' (2022 film), an Indian Kannada-language film * "James", a television episode of ''Adventure Time'' Music * James (band), a band from Manchester ** ''James'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underdetermination
In the philosophy of science, underdetermination or the underdetermination of theory by data (sometimes abbreviated UTD) is the idea that evidence available to us at a given time may be insufficient to determine what beliefs we should hold in response to it. The underdetermination thesis states that all evidence necessarily underdetermines any scientific theory. Underdetermination exists when available evidence is insufficient to identify which belief one should hold about that evidence. For example, if all that was known was that exactly $10 were spent on apples and oranges, and that apples cost $1 and oranges $2, then one would know enough to eliminate some possibilities (e.g., 6 oranges could not have been purchased), but one would not have enough evidence to know which specific combination of apples and oranges were purchased. In this example, one would say that belief in what combination was purchased is underdetermined by the available evidence. In contrast, ''overdetermin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
