Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/35102
Authors: 
Heckman, James Joseph
Year of Publication: 
2008
Series/Report no.: 
IZA Discussion Papers 3425
Abstract: 
This paper presents the econometric approach to causal modeling. It is motivated by policy problems. New causal parameters are defined and identified to address specific policy problems. Economists embrace a scientific approach to causality and model the preferences and choices of agents to infer subjective (agent) evaluations as well as objective outcomes. Anticipated and realized subjective and objective outcomes are distinguished. Models for simultaneous causality are developed. The paper contrasts the Neyman-Rubin model of causality with the econometric approach.
Subjects: 
Causality
econometrics
Roy model
Neyman-Rubin model
subjective and objective evaluations
anticipated vs. realized outcomes
counterfactuals
treatment effects
JEL: 
B41
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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