SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 47 
the value of 60’ is determined as 
—2.4C 
The earlier discussion suggests that this estimate is an under- 
statement. Thus, if hypothesis (H) were verified, we should 
have 
2.46 < 6° < 5.25. 
Since the exponential model is assumed to correspond tc 
reality, the distance between the two values for 8” results from 
‘he incorrectness of hypothesis (H); but the fact that these 
wo values are of the same order of magnitude does suggest 
‘hat hypothesis (H) does not depart too far from realitv 
Taking the geometric mean of the two estimates, 
nit 
v-25=3-59 - 
For this value of 6’, the following theoretical values are 
found : 
© See Charts III A and 
“TL 7? below 
i Allais - pag. 15.