The uses of economic theory
against a purely positive interpretation of theoretical results
by Abhijit Banerjee
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Economists are excessively influenced by the so-called positive economics view, which says that economists should only describe and not prescribe. Here I argue that this view is flawed because it makes unreasonably strong assumptions about what players (the agents taking economic decisions) know and understand. I then use the example of micro-credit to show how this bias towards positive economics has distorted the policy debate. Keywords: Positivist Methodology, Mechanism Design, Micro-credit. JEL Classifications: B4, D8, O2.
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The uses of economic theory: against a purely positive interpretation of theoretical results
2002, Massachusetts Institute of Technology, Dept. of Economics
in English
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Book Details
Edition Notes
"May 30, 2002."
Includes bibliographical references (p. 23-27).
Abstract in HTML and working paper for download in PDF available via World Wide Web at the Social Science Research Network.
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| October 5, 2023 | Edited by Tom Morris | merge authors |
| July 14, 2020 | Edited by MARC Bot | remove fake subjects |
| April 30, 2011 | Created by ImportBot | initial import |