Journal of Economic Methodology 6 (3):319-330 (1999)
AbstractThe principle that theories should be tested by the accuracy of their predictions but not by the realism of their assumptions needs to be qualified. As a practical matter we often need to evaluate the applicability of theories to cases for which they have not been tested by their predictions. Here we rely on the fact that theories are applicable only within a specific domain. In determining whether a specific case, for which no direct tests are available, is within the theory's domain, we look primarily at whether the assumptions of the theory are as applicable to it as they are to the cases for which the theory has been successfully tested
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References found in this work
Economic Approaches to Politics.Jeffrey Friedman - 1995 - Critical Review: A Journal of Politics and Society 9 (1-2):1-24.
The Economist-as-Audience Needs a Methodology of Plausible Inference.Robert S. Goldfarb - 1995 - Journal of Economic Methodology 2 (2):201-222.
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Citations of this work
Computing the Perfect Model: Why Do Economists Shun Simulation?Aki Lehtinen & Jaakko Kuorikoski - 2007 - Philosophy of Science 74 (3):304-329.
Positive Economics and the Normativistic Fallacy: Bridging the Two Sides of CSR.Philipp Schreck, Dominik van Aaken & Thomas Donaldson - 2013 - Business Ethics Quarterly 23 (2):297-329.
Unobservability, Tractability and the Battle of Assumptions.Frank A. Hindriks - 2005 - Journal of Economic Methodology 12 (3):383-406.
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