We criticize an American Economic Review article that presents itself as a theory of design innovation and fashion cycles. Scrutinizing the model and surrounding prose, we suggest that the article does not make clear what it is that it purports to explain, and that the story of the model fails minimal requirements of factual relevance and intuitiveness. Our broader message is that many “theory” papers are best regarded as mere model-building, a genre of creative writing masquerading as science.
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Article provided by Atlas Economic Research Foundation in its journal Econ Journal Watch.
Volume (Year): 1 (2004) Issue (Month): 3 (December) Pages: 437-454 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
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Philip R. P. Coelho & Daniel B. Klein & James E. McCure, 2005.
"Rejoinder to Pesendorfer,"
Econ Journal Watch,
Atlas Economic Research Foundation, vol. 2(1), pages 32-41, April.
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