A Data Science Central Community
The Duhem-Quine thesis and experimental economics A reinterpretation
Morten Søberg
Abstract:
The Duhem-Quine thesis asserts that any empirical evaluation of a theory is in fact a composite test of several interconnected hypotheses. Recalcitrant evidence signals falsity within the conjunction of hypotheses, but logic alone cannot pinpoint the individual element(s) inside the theoretical cluster responsible for a false prediction. This paper considers the relevance of the Duhem-Quine thesis for experimental economics. A starting point is to detail how laboratory evaluations of economic hypotheses constitute composite tests. Another aim is to scrutinize the strategy of conducting a series of experiments in order to hem in the source(s) of disconfirmative evidence. A Bayesian approach is employed to argue that reproducing experiments is not necessarily useful in terms of identifying correct causes of recalcitrant data.
http://www.ssb.no/publikasjoner/pdf/dp-329-aug02.pdf
QUOTE
∀h ∀b ∀e ∃a′ (h ∧ a′ ∧ b)→e
Comment
I found a printed version of this in an old box folder from 2002; its the argument for "the RF" (Reduced Form) in my view; in terms of Econometrics (as opposed to the argument in Quantitative Finance) its the logic, the theory behind the Factor Model; in my view.
© 2019 AnalyticBridge.com is a subsidiary and dedicated channel of Data Science Central LLC
Powered by
Badges | Report an Issue | Privacy Policy | Terms of Service
Most Popular Content on DSC
To not miss this type of content in the future, subscribe to our newsletter.
Other popular resources
Archives: 2008-2014 | 2015-2016 | 2017-2019 | Book 1 | Book 2 | More
Most popular articles
You need to be a member of AnalyticBridge to add comments!
Join AnalyticBridge