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Mathematical economic theory is lacking in logical rigour. Even if the mathematics used in constructing formal economic … theory is rigorous as pure mathematics, economic theory possesses both mathematical and non-mathematical components. But … mathematical reductionism fails to formalize the non-mathematical components of economic theory, and the method of numerics …
Persistent link: https://www.econbiz.de/10009219429
Economic theories are systems of beliefs about the world. Models formalize parts or aspects of theories but leave much of their content out. An example of a component of theories not contained in models are the instructions for how to proceed when a model fails (in Lakatos' terms the 'positive...
Persistent link: https://www.econbiz.de/10009219466
Mathematical economic theory is lacking in logical rigour. Even if the mathematics used in constructing formal economic … theory is rigorous as pure mathematics, economic theory possesses both mathematical and non-mathematical components. But … mathematical reductionism fails to formalize the non-mathematical components of economic theory, and the method of numerics …
Persistent link: https://www.econbiz.de/10009219473
Three points are made in this article. First, it is argued that general equilibrium theory should not be limited to the …
Persistent link: https://www.econbiz.de/10009219475
domain for economic theory. The first one is used by some experimenters in their skirmishes with economic theorists, and … assumption that the domain of economic theory is more limited than a literal reading of its assumptions would suggest. Of course … point in the direction of the incompleteness of economic theory. Some remarks on the role of methodological arguments …
Persistent link: https://www.econbiz.de/10005496153
normative models. Its contents and performed functions are not yet defined in general recognized theory. Present article focuses …. Following lines develop these two important aspects associated with advertising theory, even if they are not the only issues …
Persistent link: https://www.econbiz.de/10011085422
due to the fact that it features a combination of accounting theory and methods for the development and application of …
Persistent link: https://www.econbiz.de/10010895085