Gustavo Marqués ; Diego Weisman - A criterion for realism, with an application to behavioral economic models

jpe:10684 - Journal of Philosophical Economics, November 20, 2015, Volume IX Issue 1 - https://doi.org/10.46298/jpe.10684
A criterion for realism, with an application to behavioral economic modelsArticle

Authors: Gustavo Marqués 1; Diego Weisman 1

  • 1 Universitad de Buenos Aires = University of Buenos Aires [Argentina]

Many economists working within the framework of behavioral economics (BE) label the conventional way of modeling as unrealistic, and consider their own approach as more realistic than the standard practice. However, a criterion for realism is lacking in behavioral economics literature. This paper offers a simple criterion for predicating realism to economic models, and provides an illustration of such criterion at work on a particular BE model.


Volume: Volume IX Issue 1
Section: Articles
Published on: November 20, 2015
Imported on: December 28, 2022
Keywords: realism,behavioral economics,philosophy of economics,economic models,[SHS]Humanities and Social Sciences

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