On the Robustness of Economic Models
AbstractWe investigate the different ways in which the results of theoretical models can be ‘robust’. We identify three kinds of ‘robustness’: (1) robustness to changes in the model’s idealisations; (2) robustness to changes in the ‘background’ conditions; (3) robustness to changes in the implied causal mechanism. Each of these is discussed and illustrated by means of examples from economic practice.
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Bibliographic InfoPaper provided by University of Bergamo, Department of Economics in its series Working Papers with number 0208.
Length: 24 pages
Date of creation: 2002
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