Defence of Absurd Theories in Economics
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Forfattere:
Nordberg, Morten and Ole Røgeberg
År:
2003
Referanse:
HERO Skrifter
Nummer i serie: 18
Sammendrag (engelsk)
Theories that involve plainly false and even bizarre assumptions are argued to have an important role in bundling empirical facts in a way that allows these to be understood, handled and used as modules in the construction of mechanisms by economists with human cognitive limits. Absurd theories are subcomponents used in a valid explanatory strategy as long as the mechanisms only derive the implications of the facts summarised. This provides a defence and explanation of many economic theories, but also imposes hard limits on such theorising.
Nøkkelord:
As-if theory; Economic methodology, welfare economics
JEL:
B41, D00
Prosjekt info:
Oppdragsgiver: Norges forskningsrådOppdragsgivers prosjektnr.:
Frisch prosjekt: 4101 - Økonomi og helse
ISBN:
82-7756-124-5
Kontakt:
morten.nordberg@frisch.uio.no, o.j.rogeberg@frisch.uio.no
Finansiering:
The Research Council of Norway