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Commentary on 'Addressing the Malaise in Neoclassical Economics: A Call for Partial Models'
Economic Thought 8 (1):53 (2019)
Abstract
The article by Ron Wallace 'proposes the deployment of partial modelling, utilising Boolean networks (BNs), as an inductive discovery procedure for the development of economic theory'. The central argument in favour of partial models is well-made, and while I agree with this aspect of the paper, and the conclusion that models should serve as 'cognitive instruments in a regime of exploration,' I have a number of comments about the proposed strategy and the example of BNs......Links
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References found in this work
A Quantum Theory of Money and Value, Part 2: The Uncertainty Principle.David Orrell - 2017 - Economic Thought 6 (2):14.
Preference reversal in quantum decision theory.Vyacheslav I. Yukalov & Didier Sornette - 2015 - Frontiers in Psychology 6.
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