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Dilemmas of an Economic Theorist
https://doi.org/10.32609/0042-8736-2008-11-62-80
Abstract
The paper discusses four dilemmas encountered by an economic theorist. The dilemma of absurd conclusions: should we abandon a model if it produces absurd conclusions or should we regard a model as a very limited set of assumptions that will inevitably fail in some contexts? The dilemma of responding to evidence: should our models be judged according to experimental results? The dilemma of modelless regularities: should models provide the hypothesis for testing or are they simply exercises in logic that have no use in identifying regularities? The dilemma of relevance: do economists have the right to offer advice or to make statements that are intended to influence the real world?
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Review
For citations:
Rubinstein A. Dilemmas of an Economic Theorist. Voprosy Ekonomiki. 2008;(11):62-80. (In Russ.) https://doi.org/10.32609/0042-8736-2008-11-62-80
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