Josh Angrist: Iconometrics is a way to assess the impact of one variable on another. He says even when we can't do a real randomized trial, there are econometric methods that we hope will approximate that. Angrist and Steve Pischke talk about their new book Mastering Metrics.
Joshua Angrist of the Massachusetts Institute of Technology talks to EconTalk host Russ Roberts about the craft of econometrics--how to use economic thinking and statistical methods to make sense of data and uncover causation. Angrist argues that improvements in research design along with various econometric techniques have improved the credibility of measurement in a complex world. Roberts pushes back and the conversation concludes with a discussion of how to assess the reliability of findings in controversial public policy areas.