Economics: Between Prediction and Criticism

Itzhak Gilboa, Andrew Postlewaite, Larry Samuelson () and David Schmeidler
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Larry Samuelson: Department of Economics - Yale University [New Haven]

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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)
Date: 2016-03-01
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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)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-01970753

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