Publication detailsReiss, Julian (2015). Two Approaches to Reasoning From Evidence or What Econometrics Can Learn From Biomedical Research. Journal of Economic Methodology 22(3): 373-390.
- Publication type: Journal Article
- ISSN/ISBN: 1350-178X, 1469-9427
- DOI: 10.1080/1350178X.2015.1071510
- Keywords: Evidence, Randomised trials, Econometrics, Inference.
- Further publication details on publisher web site
- Durham Research Online (DRO) - may include full text
Author(s) from Durham
This paper looks at an appeal to the authority of biomedical research that has recently been used by empirical economists to motivate and justify their methods. I argue that those who make this appeal mistake the nature of biomedical research. Randomised trials, which are said to have revolutionised biomedical research, are a central methodology, but according to only one paradigm. There is another paradigm at work in biomedical research, the inferentialist paradigm, in which randomised trials play no special role. I outline the inferentialist alternative in broad strokes, apply it to a recent controversy in econometrics and draw some general conclusions concerning econometric methodology.