Showing 1 - 6 of 6
External validity is the problem of generalizing results from laboratory to non-laboratory conditions. In this paper we review various ways in which the problem can be tackled, depending on the kind of experiment one is doing. Using a concrete example, we highlight in particular the distinction...
Persistent link: https://www.econbiz.de/10005496135
Two important arguments in the methodological literature on experimental economics rely on the specification of a domain for economic theory. The first one is used by some experimenters in their skirmishes with economic theorists, and moves from the assumption that theories have (or ought to...
Persistent link: https://www.econbiz.de/10005496153
The failure of models based on rational expectations to explain the 'boom and bust' of financial markets does not support Soros' critique of mainstream economics or his call for a theoretical revolution. Contrary to what Soros says, standard rational choice theory has the conceptual resources to...
Persistent link: https://www.econbiz.de/10010740947
Persistent link: https://www.econbiz.de/10009215315
The paper investigates how normative considerations influenced the development of the theory of individual decision-making under risk. In the first part, the debate between Maurice Allais and the 'Neo-Bernoullians' (supporting the Expected Utility model) is reconstructed, in order to show that a...
Persistent link: https://www.econbiz.de/10009215363
Analytical philosophy has been challenged by experimental approaches that make use of, among other things, cognitive science methods. In this paper we illustrate the benefits of merging philosophy with neuroscience, using an example of research in the foundations of social science. We argue that...
Persistent link: https://www.econbiz.de/10008691590