On the Robustness of Economic Models

Francesco Guala and Andrea Salanti

No 208, Working Papers (-2012) from University of Bergamo, Department of Economics

Abstract: We investigate the different ways in which the results of theoretical models can be ‘robust’. We identify three kinds of ‘robustness’: (1) robustness to changes in the model’s idealisations; (2) robustness to changes in the ‘background’ conditions; (3) robustness to changes in the implied causal mechanism. Each of these is discussed and illustrated by means of examples from economic practice.

Pages: 24 pages
Date: 2002
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Citations: View citations in EconPapers (2)

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