Rodrigo Pinto: What is causality? How to express it? And why it matters

Speaker: Rodrigo Pinto (UCLA)
Title: What is causality? How to express it? And why it matters
Discussant: Ilya Shpitser (Johns Hopkins University)
Abstract: Causality is a well-studied concept in economics, yet effective causal analysis necessitates tools beyond traditional statistics and probability theory. Economists have historically employed structural equations and causal tools for this purpose. Alongside this traditional approach, several frameworks have been developed to address and manipulate causal inquiries. This paper explores the advantages and drawbacks of three prominent approaches: Haavelmo's Hypothetical Model Approach, the Language of Potential Outcomes (Rubin and co-authors), and Do-calculus (Pearl and co-authors). By critically examining these methodologies, we aim to highlight their respective strengths and limitations, providing a comprehensive understanding of their applications in economic causal analysis.