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Mike,
Back-of-the-envelop techniques are to be preferred to sophisticated
techniques? Why? Moreover, one person's back-of-the-envelop is another
person's sophisticated technique. Techniques have to be selected on the
basis of their appropriateness for the problem at hand. In any case, the
real empirical issue I-O systems measure of value isn't technique, but the
algorithm for industry aggregation.
peace, patrick
At 02:27 PM 5/24/00 -0700, you wrote:
>I would not say to abandon empirical research, but to think more in terms of
>back-of-the-envelope calculations rather than to aspire to sophisticated
>techniques.
>
>"Patrick L. Mason" wrote:
>
>> Alfredo (and others who agree with his position) has proven a bit too much.
>> All empirical work is "messy." Are we then to abandon empirical research?
>>
>
>--
>Michael Perelman
>Economics Department
>California State University
>Chico, CA 95929
>
>Tel. 530-898-5321
>E-Mail michael@ecst.csuchico.edu
>
>
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