“…A multitude of software options provide broad access to econometric techniques at all levels of statistical and computing sophistication, and, as with input–output software, enable economic impact studies to be conducted with insufficient attention to (or perhaps not enough patience for) the subtleties of the method and its prerequisite conditions. Outside of the scholarly realm, econometric models are not yet commonly applied in economic impact analyses, but are frequently employed for generating forecasts of population and land values (sometimes as components within a more complex set of models), which in turn are essential inputs into fiscal impact and facility siting analyses (e.g., Norton 2007; Ottensman 2000; Edwards and Huddleston 2010). The numerous cautions elucidated by scholars and researchers (contained in any standard econometrics or statistics textbook; e.g., Allison 1999; Gujarati 2003) should be evaluated thoroughly by analysts in considering whether to apply an econometric model for impact assessment and by educators in teaching econometric modeling and forecasting.…”