Ebook: Henri Theil’s Contributions to Economics and Econometrics: Econometric Theory and Methodology

PREFACE TO THE COLLECTION PREAMBLE The editors are pleased to present a selection of Henri Theil's contributions to economics and econometrics in three volumes. In Volume I we have provided an overview of Theil's contributions, a brief biography, an annotated bibliography of his research, and a selection of published and unpublished articles and chapters in books dealing with topics in econometrics. Volume IT contains Theil's contributions to demand analysis and information theory. Volume ITI includes Theil's contributions in economic policy and forecasting, and management science. The selection of articles is intended to provide examples of Theil's many seminal and pathbreaking contributions to economics in such areas as econometrics, statistics, demand analysis, information theory, economic policy analysis, aggregation theory, forecasting, index numbers, management science, sociology, operations research, higher education and much more. The collection is also intended to serve as a tribute to him on the occasion of his 67th birthday.! These three volumes also highlight some of Theil's contributions and service to the profession as a leader, advisor, administrator, teacher, and researcher. Theil's contributions, which encompass many disciplines, have been extensively cited both in scientific and professional journals. These citations often place Theil among the top 10 researchers (ranked according to number of times cited) in the world in various disciplines.

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These three volumes contain an account of Professor Henri Theil's distinguished career as a leader, advisor, administrator, teacher, and researcher in economics and econometrics. The books also contain a selection of his contributions in many areas, such as econometrics, demand analysis, information theory, forecasting, statistics, economic policy analysis and management science. To date he has contributed over 250 articles in refereed journals and chapters in books, and 15 books, three of which became citation classics. His books and articles have appeared in (and have been translated into) many languages, such as Polish, Russian, Dutch, English, French, German, Hungarian, Italian and Japanese.
This collection provides excellent reference material to researchers and graduate students working in a variety of disciplines, such as econometrics, economics, management science, operations research, and statistics. Moreover, Professor Theil's career serves as a role model for younger generations of scholars, both in terms of his approach to research and his commitment to his profession.
Professor Theil's distinguished career as an academic began in 1953 when he was appointed Professor of Econometrics at the Netherlands School of Economics in Rotterdam (now Erasmus University). Three years later he founded the Econometric Institute in Rotterdam and served as its first director until 1966, when he accepted a joint appointment at the Graduate School of Business and Department of Economics, University of Chicago, U.S.A. In 1981, Theil was appointed to the McKethan-Matherly Eminent Chair at the Graduate School of Business Administration of the University of Florida in Gainesville. Theil has received many international honours including four honorary degrees.

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These three volumes contain an account of Professor Henri Theil's distinguished career as a leader, advisor, administrator, teacher, and researcher in economics and econometrics. The books also contain a selection of his contributions in many areas, such as econometrics, demand analysis, information theory, forecasting, statistics, economic policy analysis and management science. To date he has contributed over 250 articles in refereed journals and chapters in books, and 15 books, three of which became citation classics. His books and articles have appeared in (and have been translated into) many languages, such as Polish, Russian, Dutch, English, French, German, Hungarian, Italian and Japanese.
This collection provides excellent reference material to researchers and graduate students working in a variety of disciplines, such as econometrics, economics, management science, operations research, and statistics. Moreover, Professor Theil's career serves as a role model for younger generations of scholars, both in terms of his approach to research and his commitment to his profession.
Professor Theil's distinguished career as an academic began in 1953 when he was appointed Professor of Econometrics at the Netherlands School of Economics in Rotterdam (now Erasmus University). Three years later he founded the Econometric Institute in Rotterdam and served as its first director until 1966, when he accepted a joint appointment at the Graduate School of Business and Department of Economics, University of Chicago, U.S.A. In 1981, Theil was appointed to the McKethan-Matherly Eminent Chair at the Graduate School of Business Administration of the University of Florida in Gainesville. Theil has received many international honours including four honorary degrees.

Content:
Front Matter....Pages i-xxvi
Front Matter....Pages 1-1
Henri Theil’s Biography and his Contributions to Economics and Econometrics: An Overview....Pages 3-16
Professor Theil’s Contribution to Economics....Pages 17-24
Theil’s Citation Classics....Pages 25-28
Theil’s Work History and Biographical Data....Pages 29-37
Theil’s Annotated Bibliography....Pages 39-59
Front Matter....Pages 61-61
Estimation and Simultaneous Correlation in Complete Equation Systems....Pages 65-107
Estimation of Parameters of Econometric Models....Pages 109-116
Some Recent Work of H. Theil on Estimation in Systems of Simultaneous Equations....Pages 117-125
The Aggregation Implications of Identifiable Structural Macrorelations....Pages 127-145
Three-Stage Least Squares: Simultaneous Estimation of Simultaneous Equations....Pages 147-178
A Multinomial Extension of the Linear Logit Model....Pages 181-191
Recent Methodological Advances in Economic Equation Systems....Pages 193-213
The Final Form of Econometric Equation Systems....Pages 215-218
Results of a Survey on Entrepreneurial Behaviour Patterns....Pages 221-242
On the Time Shape of Economic Microvariables and the Munich Business Test....Pages 245-279
Recent Experiences with the Munich Business Test: An Expository Article....Pages 281-302
On Pure and Mixed Statistical Estimation in Economics....Pages 303-313
Mixed Estimation Based on Quasi-Prior Judgments....Pages 317-332
A Rank-Invariant Method of Linear and Polynomial Regression Analysis....Pages 333-343
Front Matter....Pages 345-381
On the Efficiency of Wald’s Method of Fitting Straight Lines....Pages 61-61
Multiplicative Randomness in Time Series Regression Analysis....Pages 383-397
A Simple Unimodal Lag Distribution....Pages 399-414
Estimates and Their Sampling Variance of Parameters of Certain Heteroscedastic Distributions....Pages 415-424
Specification Errors and the Estimation of Economic Relationships....Pages 427-438
Testing the Independence of Regression Disturbances....Pages 439-453
The Analysis of Disturbances in Regression Analysis....Pages 455-472
A Simplification of the Blus Procedure for Analyzing Regression Disturbances....Pages 473-488
Why is Demand Homogeneity so Often Rejected?....Pages 489-503
The Sad Fate of the Asymptotic Slutsky Symmetry Test for Large Systems....Pages 507-511
Monte Carlo Testing in Systems of Equations....Pages 513-516
A Reconsideration of the Keynes-Tinbergen Discussion on Econometric Techniques....Pages 519-532
Some Developments of Economic Thought in the Netherlands....Pages 535-554
Back Matter....Pages 555-576
....Pages 577-584