Did you get yours yet? I heard all the hip variance-co-variance matrices are into
bondage validity this year.
Econometric validity requires two conditions: no bias and consistency. This may be the first time the egg-heads got it right.
Back to the title: Asymptotic validity depends on the law of large numbers. As n -> infinity, then something wonderful happens. Equations
and husbands become “good enough” with a big enough sample size. Maybe the variance goes to zero or men are all the same after 50 something.
Econometrics methods to control for endogeneity are expected to be on my comprehensive exams tomorrow. Probability ~ 100%. So right now I’m doing some non-linear processing of all the information I’ve jammed into my head over the last few weeks. It’s coming out sideways.