Debiasing procedures are experimental methods aimed at correcting errors arising from the cognitive biases of the experimenter. We discuss two of these methods, the predesignation rule and randomization, showing to what extent they are open to the experimenter’s regress: there is no metarule to prove that, after implementing the procedure, the experimental data are actually free from biases. We claim that, from a contractarian perspective, these procedures are nonetheless defensible since they provide a warrant of the impartiality of the experiment: (...) we only need proof that the result has not been intentionally manipulated for prima facie acceptance. (shrink)

In this article we explore an argumentative pattern that provides a normative justification for expected utility functions grounded on empirical evidence, showing how it worked in three different episodes of their development. The argument claims that we should prudentially maximize our expected utility since this is the criterion effectively applied by those who are considered wisest in making risky choices (be it gamblers or businessmen). Yet, to justify the adoption of this rule, it should be proven that this is empirically (...) true: i.e. that a given function allows us to predict the choices of that particular class of agents. We show how expected utility functions were introduced and contested in accordance with this pattern in the 18th century and how it recurred in the 1950s when Allais made his case against the neo-Bernoullians. (shrink)

In this paper I offer an account of the normative dimension implicit in D. Bernoulli’s expected utility functions by means of an analysis of the juridical metaphors upon which the concept of mathematical expectation was moulded. Following a suggestion by the late E. Coumet, I show how this concept incorporated a certain standard of justice which was put in question by the St. Petersburg paradox. I contend that Bernoulli would have solved it by introducing an alternative normative criterion rather than (...) a positive model of decision-making processes. (shrink)

In this paper I offer an account of the normative dimension implicit in D. Bernoulli’s expected utility functions by means of an analysis of the juridical metaphors upon which the concept of mathematical expectation was moulded. Following a suggestion by the late E. Coumet, I show how this concept incorporated a certain standard of justice which was put in question by the St. Petersburg paradox. I contend that Bernoulli would have solved it by introducing an alternative normative criterion rather than (...) a positive model of decision making processes.Keywords: St. Petersburg paradox; Expected utility; Daniel Bernoulli. (shrink)

In actuarial parlance, the price of an insurance policy is considered fair if customers bearing the same risk are charged the same price. The estimate of this fair amount hinges on the expected value obtained by weighting the different claims by their probability. We argue that, historically, this concept of actuarial fairness originates in an Aristotelian principle of justice in exchange. We will examine how this principle was formalized in the 16th century and shaped in life insurance during the following (...) two hundred years, in two different interpretations. The Domatian account of actuarial fairness relied on subjective uncertainty: An agreement on risk was fair if both parties were equally ignorant about the chances of an uncertain event. The objectivist version grounded any agreement on an objective risk estimate drawn from a mortality table. We will show how the objectivist approach collapsed in the market for life annuities during the 18th century, leaving open the question of why we still speak of actuarial fairness as if it were an objective expected value. (shrink)

Did the impartiality of clinical trials play any role in their acceptance as regulatory standards for the safety and efficacy of drugs? According to the standard account of early British trials in the 1930s and 1940s, their impartiality was just rhetorical: the public demanded fair tests and statistical devices such as randomization created an appearance of neutrality. In fact, the design of the experiment was difficult to understand and the British authorities took advantage of it to promote their own particular (...) interests. I claim that this account is based on a poorly defined concept of experimental fairness . I present an alternative approach in which a test would be impartial if it incorporates warrants of non-manipulability. With this concept, I reconstruct the history of British trials showing that they were indeed fair and this fairness played a role in their acceptance as regulatory yardsticks. (shrink)

In this paper I explore a positivist methodological tradition in early demand theory, as exemplified by several common traits that I draw from the works of V. Pareto, H. L. Moore and H. Schultz. Assuming a current approach to explanation in the social sciences, I will discuss the building of their various explanans, showing that the three authors agreed on two distinctive methodological features: the exclusion of any causal commitment to psychology when explaining individual choice and the mandate to test (...) the truth of demand theory on aggregate data by statistical means. However, I also contend, from an epistemological point of view, that the truth of demand theory was conceived of in three different ways by our authors. Inspired by Poincaré, Pareto assumed that many different theories could account for the same data on individual choice, coming close to a kind of conventionalism -though I prefer to refer to this position as theoreticism. Moore was himself akin to Pearson's approach, which could be named descriptivist insofar as it resolved scientific laws into statistical descriptions of the data. Finally, Schultz tried to reconcile both approaches in an adequationist stance with no success, as we shall see. (shrink)

Jesús Zamora Bonilla, profesor de la Universidad Carlos III, es un autor bien conocido para el lector de Theoria por sus publicaciones en filosofía general de las ciencias y en filosofía de la economía. Sólo su distribuidora es culpable de que muchos lectores ignoren aún su primer libro, Mentiras a medias, un amplio estudio de la idea de verosimilitud que incluye una propuesta original, ya discutida en foros internacionales. El trabajo en epistemología general de las ciencias que aquí presentamos se (...) articula, además, con sus aportaciones a la economía de la ciencia y a la propia reconstrucción racional de la metodología económica. No está de más, por tanto, el volver sobre los fundamentos de este proyecto, pues, como es sabido, no son pocas las dificultades que ofrece el concepto de verosimilitud. (shrink)

In this paper I study how the theoretical categories of consumption theory were used by Milton Friedman in order to classify empirical data and obtain predictions. Friedman advocated a case by case definition of these categories that traded theoretical coherence for empirical content. I contend that this methodological strategy puts a clear incentive to contest any prediction contrary to our interest: it can always be argued that these predictions rest on a wrong classification of data. My conjecture is that this (...) methodological strategy can contribute to explain why Friedman’s predictions never generated the consensus he expected among his peers. (shrink)

A la vista del catálogo de nuestro Instituto Nacional de Estadística, quién dejará de sorprenderse al descubrir entre las colecciones auspiciadas por el INED francés una dedicada a los Clásicos de la economía y la población, con cuidadísimas ediciones de Condorcet, Süssmilch, Quesnay, Graunt... A esta colección se suma ahora, bajo la dirección de Eric Brian, otra serie de Estudios e investigaciones históricas, cuyo primer volumen comentamos aquí. Matemáticas y acción política, compilado por Thierry Martin, es, además, una excelente representación (...) de los trabajos que en Francia se desarrollan en torno a la matemática social desde múltiples enfoques. (shrink)

I will open the first part of this paper by trying to elucidate the frequentist foundations of RCTs. I will then present a number of methodological objections against the viability of these inferential principles in the conduct of actual clinical trials. In the following section, I will explore the main ethical issues in frequentist trials, namely those related to randomisation and the use of stopping rules. In the final section of the first part, I will analyse why RCTs were accepted (...) for regulatory purposes. I contend that their main virtue, from a regulatory viewpoint, is their impartiality, which is grounded in randomisation and fixed rules for the interpretation of the experiment. Thus the question will be whether Bayesian trials can match or exceed the achievements of frequentist RCTs in all these respects. In the second part of the paper, I will first present a quick glimpse of the introduction of Bayesianism in the field of medical experiments, followed by a summary presentation of the basic tenets of a Bayesian trial. The point here is to show that there is no such thing as “a” Bayesian trial. Bayesianism can ground many different approaches to medical experiments and we should assess their respective virtues separately. Thus I present two actual trials, planned with different goals in mind, and assess their respective epistemic, ethical and regulatory merits. In a tentative conclusion, I contend that, given the constraints imposed by our current regulatory framework, impartiality should preside over the design of clinical trials, even at the expense of many of their inferential and ethical virtues. (shrink)

Most readers probably know well the controversy between philosophers, historians and sociologists on the closure of scientific experiments. I am not going to focus here on the closing side of an experiment, but rather on its very beginning: the agreement on its design. Instead of wondering why certain experimental outcomes are accepted, I want to discuss why certain experimental methods prevail, even when there are controversies on the evidence they yield. In particular, when it is far from certain that these (...) methods deliver the truth of the matter under study.More precisely, I want to discuss whether the impartiality of an experimental method plays any role in the acceptance of the setup. I... (shrink)

Pretendo establecer aquí un diálogo con la concepción pragmatista de la probabilidad defendida por Roberto Torretti a partir del enfoque propensionista. En la primera parte del trabajo, quiero mostrar en qué sentido la esperanza matemática formalizaba un principio aristotélico de justicia. En la segunda parte ilustraré, apoyándome en los trabajos de G. Shafer y V. Vovk, cómo iluminar sistemáticamente esa normatividad a partir de una concepción de la probabilidad articulada sobre la teoría de juegos. Veremos así cómo hay una dimensión (...) pragmatista en la probabilidad que cumple con los desiderata de Torretti, aunque no se apoye en simetrías físicas. (shrink)

Exploramos aquí la conexión entre los conceptos de riesgo e igualdad en el argumento del observador imparcial. La concepción de la justicia que elegiría un observador imparcial se justifica por la pureza del procedimiento de elección. Sin embargo, si modelizamos esta decisión utilizando medidas del riesgo habituales en matemática financiera, veremos cómo el criterio de elección del observador bajo el velo de la ignorancia contiene una preferencia implícita por el grado de desigualdad resultante. Esto nos obliga a reconsiderar la pureza (...) procedimental de la elección. (shrink)