Synthese 191 (11):2499-2511 (2014)
AbstractAcademic and corporate research departments alike face a crucial dilemma: to exploit known frameworks or to explore new ones; to specialize or to innovate? Here I show that these two conflicting epistemic desiderata are sufficient to explain pluralistic ignorance and its boom-and-bust-like dynamics, exemplified in the collapse of the efficient markets hypothesis as a modern risk management paradigm in 2007. The internalist nature of this result, together with its robustness, suggests that pluralistic ignorance is an inherent feature rather than a threat to the rationality of epistemic communities.
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Citations of this work
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The Role of the Priority Rule in Science.Michael Strevens - 2003 - Journal of Philosophy 100 (2):55-79.