Does "Galton's Fallacy" refer just the regression towards mean? In context of convergence theory, do negative sign in regressing growth against initial income and a positive sign in regressing growth against terminal income refer Galton's Fallacy?
Please refer http://www.ilovephilosophy.com/viewtopic.php?f=4&t=164915
I guess the term "Galton's Fallacy" fits to several inferences.
Read "Galton's fallacy and economic convergence" from the Oxford Economic Papers [doi:10.1093/oep/51.1.4]
econ.lse.ac.uk/~dquah/p/dp-93galfall.pdf
Well this is a beautiful piece on Galton's fallacy and the tests on convergence hypothesis. Hope this may offer some light.
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it is published by Juniper
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