What is Self-Influential Economic Theory?

Tomas Buus

European Financial and Accounting Journal, 2012, vol. 2012, issue 1, 28-40

Abstract: Self-influence and self-reference are among the largely omitted, but quite substantial properties of thought systems in social sciences. These can have significant impact on the ways we can test such thought systems (theories), their applicability and reliability. This paper defines the basic terms of self-influence, which contrary to self-reference, is sneaky and demonstrates in practice over longer periods of time. The outline of classification of self-influence presented in this paper draws on notorious examples - CAPM and efficient market hypothesis. These examples show that philosophy has still much to tell about the methodology of science in economics.

Keywords: CAPM; EMH; Philosophy of science; Self-influence; Self-reference (search for similar items in EconPapers)
JEL-codes: A10 B40 G10 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.18267/j.efaj.13

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