Marketing Papers

Document Type


Date of this Version

October 2003


Ray Fair is one of my favorite econometricians. He has an excellent website,,where he freely shares his models. He writes clearly and his methods are reported in detail. He is concerned with the proper use of econometric methods. For example, he has long been opposed to the common practice of making ex post subjective adjustments to forecasts from econometric models. A review of empirical evidence supports his position (Armstrong and Collopy 1998).

The book is aimed at novices, which is potentially a large audience. Fair captivates the reader by showing how econometrics can be used for everyday life. This includes predicting votes in U.S. presidential elections, the quality of wine in France, whether people are likely to have extramarital affairs, how fast you can run a marathon, how attendance at college relates to grades, interest rates, and inflation.


Postprint version. Published in International Journal of Forecasting,Volume 19, Issue 4, October 2003, pages 760-761.
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Date Posted: 14 June 2007

This document has been peer reviewed.