Verisimilitude and the scientific strategy of economic theory

Journal of Economic Methodology 6 (3):331-350 (1999)
Abstract
Methodological norms in economic theorizing are interpreted as rational strategies to optimize some epistemic utility functions. A definition of ?empirical verisimilitude? is defended as a plausible interpretation of the epistemic preferences of researchers. Some salient differences between the scientific strategies of physics and of economics are derived from the comparison of the relative costs associated with each strategy. The classical discussion about the ?realism of assumptions? in economics is also considered under the light of the concept of ?empirical verisimilitude?
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DOI 10.1080/13501789900000022
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References found in this work BETA
Essays in Positive Economics.Milton Friedman - 1953 - University of Chicago Press.
Truthlikeness.Ilkka Niiniluoto - 1989 - Journal of Symbolic Logic 54 (1):297-300.
Survey Article. Verisimilitude: The Third Period.I. Niiniluoto - 1998 - British Journal for the Philosophy of Science 49 (1):1-29.

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Citations of this work BETA
Unobservability, Tractability and the Battle of Assumptions.Frank A. Hindriks - 2005 - Journal of Economic Methodology 12 (3):383-406.

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