By Adolfo Figueroa
The new study technique awarded during this publication guarantees that each one financial theories are falsifiable and that irrefutable theories are scientifically sound. Figueroa combines the logically constant facets of Popperian and approach epistemologies in his alpha-beta strategy to tackle the common challenge of too-general empirical study tools utilized in economics. He argues that medical principles might be utilized to economics to make feel of society, yet that they have to tackle the complexity of fact in addition to the simplicity of the summary on which difficult sciences can depend. additionally, as the alpha-beta technique combines ways to deal with the problems of scientifically interpreting complicated society, it additionally extends to different social sciences that experience traditionally trusted empirical equipment. This groundbreaking Pivot is perfect for college students and researchers devoted to selling the development of medical examine in all social sciences.
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Additional resources for Rules for Scientific Research in Economics: The Alpha-Beta Method
Example text
Those types correspond to different equilibrium situations in the economic process, for what is repeated is the equilibrium situation. As indicated earlier (Chap. 1), the concept of equilibrium refers to the solution of the social interactions. The concept of equilibrium can be stated as follows: An economic process is said to be in equilibrium if, and only if, no social actor has both the power and the incentive to change the outcome of the production and distribution process. In a static economic process, the corresponding static equilibrium implies the repetition of the same values of the endogenous variables, period after period, as long as the values of the exogenous variables remain unchanged.
1, Chap. 1). Therefore, causality requires a theory, that is, no theory, no causality. Because beta propositions indicate causality relations, for each endogenous variable of the theory there will exist a causality relationship; hence, there will be as many causality relations or beta propositions as there are endogenous variables (variables the theory seeks to explain) in the theoretical system. According to the alpha-beta method, if the abstract world constructed by the theory is a good approximation of the real world, we should observe in the real world what the beta propositions say.
How far has the theory been corroborated? In sum, scientific theory is a logical artifice to attain scientific knowledge. A scientific theory allows us to construct an abstract world that intends to resemble well the complex real world. If there is no theory, there is no possibility of scientific knowledge. However, how accurate is the approximation of the theory to the real world? The theory needs empirical confrontation against reality. The prior set of assumptions needs posterior empirical falsification.