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Econometric methods and Reichenbach’s principle.

Reichenbach’s ‘principle of the common cause’ is a foundational assumption of some important recent contributions to quantitative social science methodology but no similar principle appears in econometrics. Angrist et al. (Rubin J Am Stat Assoc 91:444–455, 1996) has argued that the principle is nece...

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Published in:Synthese Vol. 200; no. 3; pp. 1 - 22
Main Author: Muller, Seán Mfundza
Format: Article
Published: Springer Nature Jun2022
Online Access:View this record in EBSCOhost
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        10.1007/s11229-022-03684-0
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        atl: Econometric methods and Reichenbach’s principle.
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        au: Muller, Seán Mfundza
        affil: Johannesburg Institute for Advanced Study JIAS, University of Johannesburg, 1 Tolip Street, Westdene, 2092, Johannesburg, South Africa
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        Causal inference
        Common cause principle
        Econometrics
        Instrumental variables
        Reichenbach’s principle
      ab: Reichenbach’s ‘principle of the common cause’ is a foundational assumption of some important recent contributions to quantitative social science methodology but no similar principle appears in econometrics. Angrist et al. (Rubin J Am Stat Assoc 91:444–455, 1996) has argued that the principle is necessary for instrumental variables methods in econometrics, and Angrist Krueger (Quarterly Journal of Economics 106:976–1014, 1991) builds a framework using it that he proposes as a means of resolving an important methodological dispute among econometricians. Through analysis of instrumental variables methods and the issue of multicollinearity, we aim to show that the relationship of the principle to econometric methods is more nuanced than implied by previous work but nevertheless may make a valuable contribution to the coherence and validity of existing methods.
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