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External Validity and the New Inductivism in Experimental Economics

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  • Volker Gadenne

    (Johannes Kepler Universität Linz)

Abstract

The idea of external validity, which is well-known in the social sciences, has recently also been emphasized in experimental economics. It has been argued that external validity is an important criterion in experimental research, which has been neglected by philosophy of science. In connection with this criterion, a methodology has been advanced in which inductive generalization and analogical inference play a central role. The hypothetico-deductive methodology is said to be untenable, or at least insufficient. In this paper, hypothetico-deductivism is defended. The idea of external validity, and the new plea for inductivism, is critically discussed. It is pointed out that the fundamental problems of inductivism are still unsolved. The criterion of external validity is superfluous and misleading. And the problems in experimental research associated with external validity can well be solved on the basis of deductivism.

Suggested Citation

  • Volker Gadenne, 2013. "External Validity and the New Inductivism in Experimental Economics," Rationality, Markets and Morals, Frankfurt School Verlag, Frankfurt School of Finance & Management, vol. 4(63), March.
    • Handle: RePEc:rmm:journl:v:4:y:2013:i:63
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    References listed on IDEAS

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    1. Nicholas Bardsley & Robin Cubitt & Graham Loomes & Peter Moffatt & Chris Starmer & Robert Sugden, 2009. "Experimental Economics: Rethinking the Rules," Economics Books, Princeton University Press, edition 1, number 9074.
    2. Guala,Francesco, 2005. "The Methodology of Experimental Economics," Cambridge Books, Cambridge University Press, number 9780521618618.
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    Cited by:

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    2. Max Albert & Andreas Hildenbrand, 2016. "Industrial Organization and Experimental Economics: How to Learn from Laboratory Experiments," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 33(1), pages 135-156, August.
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    4. Max Albert, 2022. "How to Escape from Model Platonism in Economics: Critical Assumptions, Robust Conclusions, and Approximate Explanations," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 39(1), pages 37-68, October.
    5. Andreas Hildenbrand & Rainer Kühl & Anne Piper, 2016. "On the Credibility Determinants of a Quality Label: a Quasi-Natural Experiment Using the Example of Stiftung Warentest," Journal of Consumer Policy, Springer, vol. 39(3), pages 307-325, September.

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