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 |
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Pages (from-to) | 367-390 |
Number of pages | 24 |
Journal | International Economic Review |
Volume | 59 |
Issue number | 2 |
DOIs | |
State | Published - May 2018 |