Econometrics and Psychometrics: Rivers Out of Biometry.

Abstract

The period 1895–1925 saw the origins and establishment of the fields that came to be called econometrics and psychometrics. I consider what these fields owed to biometry—the statistical approach to the biological problems of evolution—and make some comparisons between all three. I emphasize developments in biology and psychology, for these are less familiar to historians of econometrics. These developments are interesting to contemplate, for the biometricians and psychometricians were already discussing issues associated with the respective roles of statistical analysis and of subject matter theory, issues that became prominent in econometrics only much later.

John Aldrich; Econometrics and Psychometrics: Rivers Out of Biometry. History of Political Economy 1 December 2011; 43 (suppl_1): 35–56. doi: https://doi.org/10.1215/00182702-1158790

Agricultural Economics as a Poster Child of Applied Economics

 Abstract

Agricultural economists have embodied the notions of applied economics for a long time. They have used economic principles to address real-world problems, integrating economics and scientific knowledge. Applied economics tends to be multidisciplinary and develop applied concepts, theories, and tools. Some, like human capital, diffusion of innovation, contingent valuation, and numerous numerical and econometric techniques have spread throughout economics. Agricultural economic research has been data intensive, and improved information technologies strengthen this tendency. Yet data without theory is of limited use and coevolution of theory and data are essential. Empirical analysis should incorporate quantitative information as well as narratives. We are challenged to understand the coevolution of business, supply chains, and technology, and how they are affected by policies and affect markets. Research should integrate agriculture, energy, and the environment and develop tools to analyze and regulate the emerging bio-economy integrating biotech and infotech.

Zilberman, D. (2019), Agricultural Economics as a Poster Child of Applied Economics: Big Data & Big Issues1. American Journal of Agricultural Economics, 101: 353-364. https://doi.org/10.1093/ajae/aay101