Articles

Economics: Between prediction and criticism

I. GILBOA, A. POSTLEWAITE, L. SAMUELSON, D. SCHMEIDLER

International Economic Review

A paraître

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

https://onlinelibrary.wiley.com/doi/abs/10.1111/iere.12273


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


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