I am not, nor have I ever been a member of a data-mining discipline

Journal of Economic Methodology 7 (2):217-230 (2000)
This paper argues classical statistics and standard econometrics are based on a desire to meet scientific standards for accumulating reliable knowledge. Science requires two inputs, mining of existing data for inspiration and new or 'out-of-sample' data for predictive testing. Avoidance of data-mining is neither possible nor desirable. In economics out-of-sample data is relatively scarce, so the production process should intensively exploit the existing data. But the two inputs should be thought of as complements rather than substitutes. And we neglect the importance of out-of-sample testing in the production of reliable knowledge. Avoidance of data-mining is not a substitute for tests conducted in new samples. The problem is not that data-mining corrupts the process, the problem is our collective neglect of out-of-sample encompassing, stability and forecast tests. So the data-mining issue diverts us from the crucial margin.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
DOI 10.1080/13501780050045100
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
Download options
PhilPapers Archive

Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 22,675
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA
Thomas Mayer (2000). Data Mining: A Reconsideration. Journal of Economic Methodology 7 (2):183-194.

Add more references

Citations of this work BETA

No citations found.

Add more citations

Similar books and articles
Thomas Mayer (2000). Data Mining: A Reconsideration. Journal of Economic Methodology 7 (2):183-194.

Monthly downloads

Added to index


Total downloads

13 ( #298,354 of 2,048,160 )

Recent downloads (6 months)

4 ( #163,235 of 2,048,160 )

How can I increase my downloads?

My notes
Sign in to use this feature

Start a new thread
There  are no threads in this forum
Nothing in this forum yet.