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Four Methodenstreits between behavioral and mainstream economics.
- Source :
-
Journal of Economic Methodology . Sep2019, Vol. 26 Issue 3, p179-194. 16p. - Publication Year :
- 2019
-
Abstract
- The concept of Methodenstreits is used to analyse the relationship between behavioral and mainstream economics. A Methodenstreit is understood by the authors as a dispute between the more abstract and the less abstract canons of the economic science. It undergoes several necessary stages: discovery of a new research instrument, an exaggerated debate between the canons, and mutual enrichement after the debate. The article reviews the following Methodenstreits: empirical investigations of Hall, Hitch, and Lester vs neoclassical theory of the firm (the 'full cost controversy' and the 'marginalist controversy'); Katona's consumer research vs Keynesian macroeconomics; Simon's bounded rationality approach vs neoclassical maximization; and experiments of Allais and others vs expected utility theory. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 1350178X
- Volume :
- 26
- Issue :
- 3
- Database :
- Academic Search Index
- Journal :
- Journal of Economic Methodology
- Publication Type :
- Academic Journal
- Accession number :
- 137164802
- Full Text :
- https://doi.org/10.1080/1350178X.2019.1625206