ECONOMICS: BETWEEN PREDICTION AND CRITICISM

Itzhak Gilboa; Andrew Postlewaite; Larry Samuelson; David Schmeidler

doi:10.1111/iere.12273

ECONOMICS: BETWEEN PREDICTION AND CRITICISM

Itzhak Gilboa, Andrew Postlewaite^*, Larry Samuelson, David Schmeidler

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

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 nontrivial 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.

Original language	English
Pages (from-to)	367-390
Number of pages	24
Journal	International Economic Review
Volume	59
Issue number	2
DOIs	https://doi.org/10.1111/iere.12273
State	Published - May 2018

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author = "Itzhak Gilboa and Andrew Postlewaite and Larry Samuelson and David Schmeidler",

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ECONOMICS: BETWEEN PREDICTION AND CRITICISM

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