Published in the Journal of Business (1978), 51 (4), 595-600. Econometric Forecasting and the Science Court

A man convinced against his will Is of the same opinion still. (Paraphrased from Samuel Butler, 1663) My paper, “Forecasting with Econometric Methods: Folklore versus Fact, ” argued for the method of multiple hypotheses in econometrics. However, those who favor advocacy (e.g., Mitroff 1972) assert that ample opportunity exists for minority viewpoints to be aired. Furthermore, they feel that the marketplace for ideas will work efficiently