Ragnar Frisch on the limits of statistics and significance testing

13 August, 2015 at 12:00 | Posted in Statistics & Econometrics | Leave a comment

Frisch_anim_xxxI do not claim that the technique developed in the present paper will, like a stone of the wise, solve all the problems of testing “significance” with which the economic statistician is confronted. No statistical technique, however, refined, will ever be able to do such a thing. The ultimate test of significance must consist in a network of conclusions and cross checks where theoretical economic considerations, intimate and realistic knowledge of the data and a refined statistical technique concur.

Ragnar Frisch

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