Frydman, Roman; Goldberg, Michael D. - In: Journal of Economic Methodology 20 (2013) 4, pp. 386-396
This note focuses on George Soros's challenge to macroeconomics and finance theory that any valid methodology of social science must explicitly recognize fallibility in a Knightian sense. We use a simple algebraic example to sketch how extant models formalize fallibility. We argue that...