econ nobel

[Brad DeLong]

>At 02:44 PM 10/11/00 -0700, Brad riposted:
>>Say, rather, that McFadden built a framework that you can use to
>>estimate what demand will be when people must make discrete
>>choices--whether to commute by car or by subway, for example. And
>>Heckman built a framework that you can use when you don't observe a
>>substantial chunk of your sample for reasons that depend on the
>>choices they do make.
>
>This was not the point I tried to make.  I argued that for the most part
>the Nobel prize is awarded not for solving some pernicious technical
>problems, but because the solutions re-affirm conventional values or save
>politically correct theories from empirical refutation.

Well, this is a bad year to make that argument...