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From Economic Activity to Understanding Spaces

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  • Diego Iribarren

Abstract

This paper constructs the probability space underlying the random variable of any time dependent econometric specification. The construction links concrete economic activity, both perceived and recorded, and econometric formulations. Furthermore, it is argued that the probability events belonging to this space are forms of understanding economic activity held by each agent. The model establishes two aspects of any econometric formulation. Mainly, that learning must be unique between any two ticks of the clock and that not all forms of understandings can indeed become events in the random variable’s probability space. Finally, a model of the dependencies based on agent-based understandings, and evolution thereof, is presented as well.

Suggested Citation

  • Diego Iribarren, 2003. "From Economic Activity to Understanding Spaces," EERI Research Paper Series EERI_RP_2003_01, Economics and Econometrics Research Institute (EERI), Brussels.
    • Handle: RePEc:eei:rpaper:eeri_rp_2003_01
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    File URL: http://www.eeri.eu/documents/wp/EERI_RP_2003_01.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Knowledge intuitions probability;

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

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