Progress through Regression: The Life Story of the Empirical Cobb-Douglas Production Function (Historical Perspectives on Modern Economics) - Hardcover

Biddle, Jeff E.

Hardcover

ISBN 10: 1108492266 ISBN 13: 9781108492263

Publisher: Cambridge University Press, 2020

Synopsis

The Cobb-Douglas regression, a statistical technique developed to estimate what economists called a 'production function', was introduced in the late 1920s. For several years, only economist Paul Douglas and a few collaborators used the technique, while vigorously defending it against numerous critics. By the 1950s, however, several economists beyond Douglas's circle were using the technique, and by the 1970s, Douglas's regression, and more sophisticated procedures inspired by it, had become standard parts of the empirical economist's toolkit. This volume is the story of the Cobb-Douglas regression from its introduction to its acceptance as general-purpose research tool. The story intersects with the histories of several important empirical research programs in twentieth century economics, and vividly portrays the challenges of empirical economic research during that era. Fundamentally, this work represents a case study of how a controversial, innovative research tool comes to be widely accepted by a community of scholars.

About this title

About the Author

Jeff E. Biddle is a Professor of Economics at Michigan State University. He is a past president of the History of Economics Society, and his current research focuses on the history of empirical methods in economic research.

Edition details

• Publisher: Cambridge University Press
• Publication date: 2020
• Language: English
• ISBN 10: 1108492266
• ISBN 13: 9781108492263
• Binding: Hardcover
• Number of pages: 350