Economics: Between Prediction and Criticism

Itzhak Gilboa, Andrew Postlewaite, Larry Samuelson () and David Schmeidler

No 1182, HEC Research Papers Series from HEC Paris

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, it's roles in producing predictions and offering critiques vary in a substantial way. We offer a formal model i 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: 51 pages
Date: 2016-03-01, Revised 2017-04-03
References: Add references at CitEc
Citations:

Downloads: (external link)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2739770 Full text (application/pdf)

Related works:
Journal Article: ECONOMICS: BETWEEN PREDICTION AND CRITICISM (2018)
Working Paper: Economics: Between Prediction and Criticism (2016)
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:ebg:heccah:1182

Access Statistics for this paper

More papers in HEC Research Papers Series from HEC Paris HEC Paris, 78351 Jouy-en-Josas cedex, France. Contact information at EDIRC.
Bibliographic data for series maintained by Antoine Haldemann ().