Fashion Cycles in Economics
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 â€œtheoryâ€ papers are best regarded as mere model-building, a genre of creative writing masquerading as science.
Volume (Year): 1 (2004)
Issue (Month): 3 (December)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- William L. Davis, 2004. "Preference Falsification in the Economics Profession," Econ Journal Watch, Econ Journal Watch, vol. 1(2), pages 359-368, August.
- Donald F. Gordon, 1955. "Operational Propositions in Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 63, pages 150-150.
- Edward J. Chambers & Donald F. Gordon, 1966. "Primary Products and Economic Growth: An Empirical Measurement," Journal of Political Economy, University of Chicago Press, vol. 74, pages 315-315.
- Wolfgang Pesendorfer, 1993.
"Design Innovation and Fashion Cycles,"
1049, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Leontief, Wassily, 1971. "Theoretical Assumptions and Nonobserved Facts," American Economic Review, American Economic Association, vol. 61(1), pages 1-7, March.
- Baumol, William J, 1990. "Sir John versus the Hicksians, or Theorist Malgre Lui?," Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1708-1715, December.
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