9Résumé
9.1 Introduction
Although there is no uniform definition of science in econometrics, in our view, the science in econometrics lies in theoretical demonstrability, methodological deducibility, and result verifiability. The nature of event random and the stochastic process, as well as associated probability theory, place a central role in econometric theory, application, and methodology. The art in econometrics is just in using either a combining different methods such as the statistical data-based approach or the causal econometric model, or using a particular approach such as the Bayesian or non-Bayesian approach, for a particular purpose, to capture the reality. Efforts have been made in this book to ...
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