The Fort Langley Journals, 1827-30 gA synthesis of the authorsroundbreaking econometric research on automatic model selection which uses powerful computational algorithms and theory evaluation Economic models of empirical phenomena are for a variety of reasons the most obvious of phenomena are developed for a variety reasons the most obvious of is the numerical characterization of available evidence in a suitably parsimonious "FORM ANOTHER IS TO TEST A THEORY OR EVALUATE "Another is to test a theory or evaluate against the evidence still another is to forecast future outcomes Building such models involves a multitude. F empirical model discovery and
#THE ROLE OF MODEL SELECTION HENDRY #role of model selection Hendry Doornik outline the stages of developing a viable model of a complicated evolving process
THEY DISCUSS THE DISCOVERY STAGES INdiscuss the discovery stages in considering both the theory of model selection and the performance of several algorithms They describe extensions to tackling outliers and multiple breaks of several algorithms They describe extensions to tackling outliers and multiple breaks to the eneral case ofcandidate variables than observations Finally they briefly consider selecting models specifically for forecastin. .
David F Hendry à 2 Review.
Of decisions and the large number of features that need to be taken into account can overwhelm the of that need to be taken into account can overwhelm the Automatic model selection which draws on recent advances in computation and search algorithms can create and then empirically investigate a vastly wider range of possibilities than even the reatest expert In this book leading econometricians David Hendry and Jurgen Doornik report on Their Several Decades Of several decades of research on automatic model selectionAfter introducing the principles