Beyond traditional probabilistic methods in econometrics

Abstract

© Springer Nature Switzerland AG 2019. We elaborate on various uncertainty calculi in current research efforts to improve empirical econometrics. These consist essentially of considering appropriate non additive (and non commutative) probabilities, as well as taking into account economic data which involved economic agents’ behavior. After presenting a panorama of well-known non traditional probabilistic methods, we focus on the emerging effort of taking the analogy of financial econometrics with quantum mechanics to exhibit the promising use of quantum probability for modeling human behavior, and of Bohmian mechanics for modeling economic data.