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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- 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.
- William L. Davis, 2004. "Preference Falsification in the Economics Profession," Econ Journal Watch, Econ Journal Watch, vol. 1(2), pages 359-368, August.
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- Pesendorfer, Wolfgang, 1995.
"Design Innovation and Fashion Cycles,"
American Economic Review,
American Economic Association, vol. 85(4), pages 771-92, September.
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