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 models

Authors: Gustavo Marqués ; Diego Weisman

    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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