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As one more example of flawed statistical averages in the field of economics, take inflation.
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"It is appreciated that Banerjee is honest, a fighter and a self-made woman, " says Abhirup Sarkar, who teaches economics at the Indian Statistical Institute (ISI) in Kolkata.
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Now, better statistical tools and neuroscience are opening up the possibility that economics can become an abductive science that combines elements of deductive and inductive reasoning.
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He dedicated his life to elevating economics into a more precise science using mathematical and statistical techniques.
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The Office of Management and Budget and the Economics and Statistics Administration within the Department of Commerce worked together with federal statistical agencies to create Women in America in support of the Council on Women and Girls.
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Indeed, as shown by a simple yet nifty study by Marc Orlitzky, recently published in Business Ethics Quarterly, articles published on this topic in Management journals report a statistical relationship between the two variables which is about twice as big as the ones reported in Economics, Finance, or Accounting journals.
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