IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

¿Los experimentos pueden falsear la teoría de la utilidad esperada?

  • Geoffrey M. Hodgson

    ()

    (University of Hertfordshire)

Some recent articles debate the implications of the results of experimental economics. It is claimed by some that these results challenge the assumptions of expected utility theory. Others deny this. Both sides presume that the assumptions of rationality or expected utility-maximization are potentially falsifiable by empirical tests. This article contests this assumption. Building on previous work in economic methodology, it is argued that non-falsifiable assumptions, such as the standard rationality postulates, are potentially universal. Hence they can embrace any empirical phenomenon. That is both their strength and their weakness. The article concludes that the debate among experimental economists can only proceed if both sides accept the non-falsifiability of key propositions under dispute. That done, the protagonists can turn to the more pertinent questions such as the criteria for choosing theories. In particular, experimental economics may have a role in suggesting more narrow and context-specific behavioural assumptions for economic theory.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/ghodgson10.pdf
Download Restriction: no

Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

Volume (Year): 6 (2004)
Issue (Month): 10 (January-June)
Pages: 17-45

as
in new window

Handle: RePEc:rei:ecoins:v:6:y:2004:i:10:p:17-45
Contact details of provider: Postal: Cra. 1 No. 12-68 Casa de las Mandolinas
Phone: (571) 2826066 Ext. 1307
Fax: (571) 2826066 Ext. 1304
Web page: http://www.economiainstitucional.com
Email:


More information through EDIRC

References listed on IDEAS
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.:

as in new window
  1. Timo Tammi, 1999. "Incentives and preference reversals: escape moves and community decisions in experimental economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 6(3), pages 351-380.
  2. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
  3. Siakantaris, Nikos, 2000. "Experimental Economics under the Microscope," Cambridge Journal of Economics, Oxford University Press, vol. 24(3), pages 267-81, May.
  4. Starmer, C., 1998. "Experimental Economics: Hard Science or Wasteful Tinkering," University of East Anglia Discussion Papers in Economics 9802, School of Economics, University of East Anglia, Norwich, UK..
  5. Sugden, Robert, 1991. "Rational Choice: A Survey of Contributions from Economics and Philosophy," Economic Journal, Royal Economic Society, vol. 101(407), pages 751-85, July.
  6. Chris Starmer,, . "Experiments in Economics ... (should we trust the dismal scientists in white coats?)," University of East Anglia Discussion Papers in Economics _002, School of Economics, University of East Anglia, Norwich, UK..
  7. Gary J. Miller, 1997. "The Impact of Economics on Contemporary Political Science," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1173-1204, September.
  8. Slovic, Paul & Lichtenstein, Sarah, 1983. "Preference Reversals: A Broader Perspective," American Economic Review, American Economic Association, vol. 73(4), pages 596-605, September.
  9. Smith, Vernon L, 1982. "Microeconomic Systems as an Experimental Science," American Economic Review, American Economic Association, vol. 72(5), pages 923-55, December.
  10. Orchard, Lionel & Stretton, Hugh, 1997. "Public Choice," Cambridge Journal of Economics, Oxford University Press, vol. 21(3), pages 409-30, May.
  11. Jason Potts, 2000. "The New Evolutionary Microeconomics," Books, Edward Elgar, number 2258.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:rei:ecoins:v:6:y:2004:i:10:p:17-45. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paola Rodríguez)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.