What's the term for the effect named after Stigler?
Stigler's Law
Stigler's Theorem
Stigler Effect
Stigler Principle
Answer
Stigler's Law refers to the tendency of economic statistics to show spurious long-term trends due to changes in how the data is collected or defined. Named after economist George Stigler, it cautions against interpreting time series data at face value or using it to draw sweeping conclusions without critical analysis. Understanding this concept is crucial for accurate data interpretation and analysis, both in economics and other fields.
Mastering the Market: The George Stigler Challenge
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