6

I'm an outsider, so I can't speak of what the boards of prestigious economic journals think of this, but... I suspect it has something to do with the opacity of computer simulations using agent-based models (ABM) compared to math proofs or even the statistical models that are the staple of applied econometrics... although simpler computer simulations like ...


5

The Journal of Economic Dynamics and Control, a decent if not "the most prestigious" journal (ranked 48th by IDEAS/RePEc), did publish a special issue on agent-based computational economics back in 2001 introducing the method to the discipline. In its introductory article, Leigh Tesfatsion, a leading figure in this field, wrote: Agent-based computational ...


5

Although I disagree with von Mises, he was reacting to what he saw as a very real problem, which was the use of relatively primitive statistical methods to describe behavior. In fact, Leonard Jimmie Savage's work on probability and statistics should have been sufficient to meet his objections, although the computational speed would not have yet existed for ...


5

In my view, it is useful to distinguish two phenomena: individuals have time-inconsistent preferences (this fits your example). There is a huge literature on that. The common practice is to evaluate welfare from the ex ante perspective, thereby assuming that people have well-defined preferences over the long-run, but that their choices might deviate from ...


3

You've walked into a serious philosophical landmine! To begin, this state of disharmony between "actual action" and "right action" is called akrasia. Your bedtime story is one of akrasia, and I suspect Aristotle might tell you your action is morally wrong. The reasoning why we disregard unobserved preferences is grounded deep in the philosophical history ...


3

There is one theoretically sound methodology to do what you are asking. When you have multiple models to compare, the only choice is Bayesian model selection and Bayesian model averaging. Bayesian methods have several properties that you would want. Any statistic created is intrinsically "admissible," and "coherent." The disadvantage, which does not ...


2

Mathematics has axioms. The study of Logic, as a formal subject in itself, has axioms. Empirical sciences do not have axioms. The physical sciences don't have axioms. Pretending economics was an a priori science was an act of intellectual dishonesty, in order to provide a pseudo-intellectual basis for the counter-empirical work of the Austrians.


1

The idea that revealed preference is preferable to stated preference is pretty common. It makes a lot of sense. That said, there is a lot of value in stated preference. It does offer something that RP does not. It can be used to run estimate demand for products where revealed data does not exist. This is common in health economics to assess the value of an ...


1

Here are two quick references, which attack your question from two sides: On the behavioral side, it seems that people who make statements about preferences systematically choose differently than people who are forced to interact with the question more extensively before making choices. Specifically, when people people simply make a statement about a choice ...


Only top voted, non community-wiki answers of a minimum length are eligible