Taking absurd theories seriously: Economics and the case of rational addiction theories

Philosophy of Science 71 (3):263-285 (2004)
Abstract
Rational addiction theories illustrate how absurd choice theories in economics get taken seriously as possibly true explanations and tools for welfare analysis despite being poorly interpreted, empirically unfalsifiable, and based on wildly inaccurate assumptions selectively justified by ad-hoc stories. The lack of transparency introduced by poorly anchored mathematical models, the psychological persuasiveness of stories, and the way the profession neglects relevant issues are suggested as explanations for how what we perhaps should see as displays of technical skill and ingenuity are allowed to blur the lines between science and games.
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DOI 10.1086/421535
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The Psychology of Scientific Explanation.J. D. Trout - 2007 - Philosophy Compass 2 (3):564–591.
A Defence of Absurd Theories in Economics.Ole Røgeberg & Morten Nordberg - 2005 - Journal of Economic Methodology 12 (4):543-562.

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