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Buck, A., & Lady, G. (2015). A New Approach to Model Verification, Falsification and Selection. Econometrics, 3, 466-493. http://www.mdpi.com/2225-1146/3/3/466/html
https://doi.org/10.3390/econometrics3030466

has been cited by the following article:

• TITLE: Economic Science and Entropy

  AUTHORS: George M. Lady

  KEYWORDS: Entropy, Qualitative Analysis, Model Falsification

  JOURNAL NAME: Theoretical Economics Letters, Vol.10 No.6, December 8, 2020

  ABSTRACT: Economic theory often does not fully specify the quantitative details of proposed models of economic activity. Instead, only the “direction of influence” of the associated variables is proposed. Such specifications are expressed by the sign patterns of the Jacobian array of the mathematical system specified by the theory. This paper shows that such arrays often only specify the frequency distributions of the sign patterns of arrays that might be estimated from the corresponding data. Shannon’s concept of entropy from information theory can then be used to measure the information provided by the theory.