This paper presents the econometric approach to causal modeling. It is motivated by policy problems. New causal parameters are defined and identified to address specific policy problems. Economists embrace a scientific approach to causality and model the preferences and choices of agents to infer subjective (agent) evaluations as well as objective outcomes. Anticipated and realized subjective and objective outcomes are distinguished. Models for simultaneous causality are developed. The paper contrasts the Neyman-Rubin model of causality with the econometric approach.
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Correlational Data, Causal Hypotheses, and Validity.Federica Russo - 2011 - Journal for General Philosophy of Science / Zeitschrift für Allgemeine Wissenschaftstheorie 42 (1):85 - 107.
Causation and Prediction in Epidemiology: A Guide to the “Methodological Revolution”.Alex Broadbent - 2015 - Studies in History and Philosophy of Science Part C: Studies in History and Philosophy of Biological and Biomedical Sciences 54:72-80.
Functions and Mechanisms in Structural-Modelling Explanations.Guillaume Wunsch, Michel Mouchart & Federica Russo - 2014 - Journal for General Philosophy of Science / Zeitschrift für Allgemeine Wissenschaftstheorie 45 (1):187-208.
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