Economics: Between Prediction and Criticism

Itzhak Gilboa, Andrew Postlewaite, Larry Samuelson () and David Schmeidler
Additional contact information
Larry Samuelson: Cowles Foundation, Yale University, https://economics.yale.edu/people/faculty/larry-samuelson

No 1958, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We suggest that one way in which economic analysis is useful is by offering a critique of reasoning. According to this view, economic theory may be useful not only by providing predictions, but also by pointing out weaknesses of arguments. It is argued that, when a theory requires a non-trivial act of interpretation, its roles in producing predictions and offering critiques vary in a substantial way. We offer a formal model in which these different roles can be captured.

Keywords: Methodology; Models; Economic modeling (search for similar items in EconPapers)
JEL-codes: B40 B41 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2014-09, Revised 2016-02
New Economics Papers: this item is included in nep-cbe, nep-exp, nep-hme, nep-hpe and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://cowles.yale.edu/sites/default/files/files/pub/d19/d1958.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
Journal Article: ECONOMICS: BETWEEN PREDICTION AND CRITICISM (2018)
Working Paper: Economics: Between Prediction and Criticism (2017)
Working Paper: Economics: Between Prediction and Criticism (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:1958

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Brittany Ladd ().