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accumulation to the theory of competitive equilibrium over time. Finally I will make some remarks on the relations of this … literature to some recent developments in the theory of economic growth which are often referred to comprehensively as the New … Growth Theory. …
Persistent link: https://www.econbiz.de/10005698152
This essay is an introduction to the recent literature on the "consistency principle" and its "converse". An allocation rule is consistent if for any problem in its domain of definition and any alternative that it selects for it, then for the associated "reduced problem" obtained by imagining...
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We criticize an American Economic Review article that presents itself as a theory of design innovation and fashion …
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Klein and Romero’s (2007, Econ Journal Watch) use of the terms “theory†and “model†seems at considerable variance from other common uses, suggesting that divergent usage by economist-authors may confront readers with substantial ambiguity. Clarity and understanding...
Persistent link: https://www.econbiz.de/10008484395
Drawing on the work of people with strong mainstream reputations, we distinguish model and theory. We argue that a … model may qualify as theory only if it purports to answer three questions: Theory of what?, Why should we care?, What merit … spreadsheet to see if an article was scored unfairly. We find that 27 articles fail the first test (Theory of what?) and 58 …
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