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> It's like taking a chart of AAPL, GOOG, saying one depends on the other because they both go up during the same timeframe, ignoring everything else that's ha
by shkkmo 5y ago
> It's like taking a chart of AAPL, GOOG, saying one depends on the other because they both go up during the same timeframe, ignoring everything else that's happening in the economy and tech industry.
That's funny because the reason these researchers are so lauded is precisely because they found novel methodologies to avoid doing exactly the sort of purely correlative analysis that you describe.
- Mikeb85 5y agoRead the whole paper or at least article. This year's prize is laughable compared to everything else that's happened in economics in the last decade.
- huitzitziltzin 5y agoTo put it extremely, extremely politely this is a minority opinion in the economics profession. (More accurate would be to say no one thinks this.) I don't do reduced-form causal inference work myself, but I recognize that it is widespread and extremely influential throughout the profession. You can of course argue that someone else should have received the prize. My own preferred candidates did not win. But this work was going to win eventually for sure and to argue that there's a lot of work from the last decade which deserved to win is not credible.