Can I read Assumptions in Economic Models: Friedman vs. Hausman on EtoBox?

Assumptions in Economic Models: Friedman vs. Hausman by Mauricio is a document available to read on EtoBox.

What is Assumptions in Economic Models: Friedman vs. Hausman about?

The document discusses the debate between Milton Friedman and Dan Hausman regarding the role of assumptions in economic models. Friedman argues that the predictive success of a model is paramount, rendering the realism of its assumptions irrelevant, while Hausman critiques this view by emphasizing the importance of examining assumptions to understand model failures and improve their reliability. Ultimately, the essay highlights that the epistemic value of economic models extends beyond mere predictive accur

Author

Mauricio

Language

EN