Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Selection and implementation the econometrics of the future / Ragnar Frisch, Universitetet i Oslo - Sosialøkonomisk Institutt - Oslo- Norge

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIOUE ETC. 5 FRISCE First point raised by Prof. ALrLais: It is obvious that my paper presents what I personally think is the most appropriate procedure for constructing a national economic decision model. It represents my personal creed at this stage. I thought that this was so obvious ‘hat there was no need for making it more explicit at this confe- rence. Second point, Prof. ALLAIS objected against my use of the term « gross » in connection with the preference functions. I cannot accept this criticism because the sense in which I used the world was precisely defined in mathematical terms, and I always used the term consistently in that sense, Third Point. Prof. ALLAIS mentioned that different people may have different preference functions (and he might have added that one person may have different preference functions at different points of time). All this is, of course, quite true. This problem is essentially a political issue, and must be handled as such. We have no other way of finally deciding about political issues than to use the political machinery existing in the country in question. It is not our task at this conference to discuss various political theories and types of political machinery. We as economists simply have to take for granted that somehow the nature of what we de- signate as the national preference function, is arrived at. I have been liscussing this before in several connections and this is the last time [ shall repeat it at this conference. THEIL Several discussants have argued that it is not easy to construc social preference functions and I can agree with this. Nevertheless, [ would like to suggest that the exercise be carried out. The reason s not that I believe that within a few years this kind of decision- making will be put into practice. It is that the procedure provides 1s with a method which enables us to find out which parts of the Frisch - pag. 3s

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