You just couldn't resist the title, could you?
Don't worry, I'm not going to be too harsh. After all, I'm rather fond of those who practise "applied microeconometrics" - especially lightly sautéed, with a little pepper and garlic. Sorry! Sorry!
The point that I want to make is a simple one, and I'll be brief.
How many seminars have you attended where the speaker has gone through the details of a formal microeconomic model, and then proceeded to a potentially interesting empirical application? And in how many cases was there a total "disconnect" between the theoretical model and the empirical model?
Hand up! Don't be shy! Wow - that's almost everyone!
How many seminars have you attended where the speaker has gone through the details of a formal microeconomic model, and then proceeded to a potentially interesting empirical application? And in how many cases was there a total "disconnect" between the theoretical model and the empirical model?
Hand up! Don't be shy! Wow - that's almost everyone!