Progress through Regression: The Life Story of the Empirical Cobb-Douglas Production Function (Historical Perspectives on Modern Economics) - Softcover
Book 19 of 20: Historical Perspectives on Modern Economics
Synopsis
Recounts the history of a widely used statistical technique in economics, offering insight into how innovative research tools gain acceptance.
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About the Author
Jeff E. Biddle is a Professor of Economics at Michigan State University. He is a past president of the History of Economics Society, and his current research focuses on the history of empirical methods in economic research.
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Progress Through Regression
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Paperback. Condition: new. Paperback. The Cobb-Douglas regression, a statistical technique developed to estimate what economists called a 'production function', was introduced in the late 1920s. For several years, only economist Paul Douglas and a few collaborators used the technique, while vigorously defending it against numerous critics. By the 1950s, however, several economists beyond Douglas's circle were using the technique, and by the 1970s, Douglas's regression, and more sophisticated procedures inspired by it, had become standard parts of the empirical economist's toolkit. This volume is the story of the Cobb-Douglas regression from its introduction to its acceptance as general-purpose research tool. The story intersects with the histories of several important empirical research programs in twentieth century economics, and vividly portrays the challenges of empirical economic research during that era. Fundamentally, this work represents a case study of how a controversial, innovative research tool comes to be widely accepted by a community of scholars. Using the empirical Cobb-Douglas production function as case study, the general phenomenon of the diffusion of new research tools in economics is addressed, and the intersection of this history with that of several important empirical research programs will appeal to historians of twentieth century economics and other social sciences. This item is printed on demand. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9781009686570
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Paperback. Condition: New. The Cobb-Douglas regression, a statistical technique developed to estimate what economists called a 'production function', was introduced in the late 1920s. For several years, only economist Paul Douglas and a few collaborators used the technique, while vigorously defending it against numerous critics. By the 1950s, however, several economists beyond Douglas's circle were using the technique, and by the 1970s, Douglas's regression, and more sophisticated procedures inspired by it, had become standard parts of the empirical economist's toolkit. This volume is the story of the Cobb-Douglas regression from its introduction to its acceptance as general-purpose research tool. The story intersects with the histories of several important empirical research programs in twentieth century economics, and vividly portrays the challenges of empirical economic research during that era. Fundamentally, this work represents a case study of how a controversial, innovative research tool comes to be widely accepted by a community of scholars. Seller Inventory # LU-9781009686570
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Progress Through Regression: The Life Story of the Empirical Cobb-Douglas Production Function (Historical Perspectives on Modern Economics)
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Progress through Regression: The Life Story of the Empirical Cobb-Douglas Production Function (Historical Perspectives on Modern Economics)
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Progress through Regression (Historical Perspectives on Modern Economics)
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