@article{Judge:122890,
      recid = {122890},
      author = {Judge, George G.},
      title = {The information theoretic foundations of a probabilistic  and predictive micro and macro economics},
      address = {2012-04-20},
      number = {1557-2016-132731},
      series = {CUDARE Working Papers},
      pages = {22},
      month = {Apr},
      year = {2012},
      abstract = {Despite the productive efforts of economists, the  disequilibrium nature of the economic system and imprecise  predictions persist. One reason for this outcome is that  traditional econometric models and estimation and inference  methods cannot provide the necessary quantitative  information for the causal influence-dynamic micro and  macro questions we need to ask given the noisy indirect  effects data we use. To  move economics in the direction of  a probabilistic and causal based predictive science, in  this paper information theoretic estimation and inference  methods are suggested as a basis for  understanding and  making predictions about dynamic micro and macro economic  processes and systems.},
      url = {http://ageconsearch.umn.edu/record/122890},
      doi = {https://doi.org/10.22004/ag.econ.122890},
}