The changing relationship between theory and experiment in economics

Sugden, Robert (2008) The changing relationship between theory and experiment in economics. Philosophy of Science, 75 (5). pp. 621-632. ISSN 1539-767X

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Until recently, economics was generally understood to be a nonexperimental science with a hypothetico‐deductive methodology. This article considers how the methodology of economics has changed with the spread of experimental methods. Initially, most experimental economists saw their work as testing pre‐existing theories. However, a method of systematic inductive enquiry in which theory plays a less central role is now evolving. This method is structured around the discovery and progressive refinement of regularities. “Exhibits”—experimental designs that generate significant regularities—are taking over some of the functions formerly performed by theoretical models.

Item Type: Article
Faculty \ School: Faculty of Social Sciences > School of Economics
Depositing User: Gina Neff
Date Deposited: 13 Jan 2011 11:09
Last Modified: 22 Apr 2023 01:09
DOI: 10.1086/594509

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