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44 votes
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Criticism of Math in Economics

I find that the essay "The New Astrology" by Alan Jay Levinovitz (an assistant professor of philosophy and religion, not an economist) makes some good points. ...the ubiquity of mathematical theory ...
Giskard's user avatar
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38 votes

Criticism of Math in Economics

What is a reason to be against mathematics in economics? The danger that any tool creates: to impose itself on the tool-user, diluting and narrowing its view of the world. It is a matter of Human ...
Alecos Papadopoulos's user avatar
29 votes

Criticism of Math in Economics

I would like to point out that the question is not whether we should have math in economics, but why some people attack mathematical economics. A lot of the recent answers seem to try to answer the ...
Giskard's user avatar
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22 votes

Criticism of Math in Economics

I think there are two important criticisms or limitations. Limit 1: The first, overlapping with what many others have said, is that all mathematic economics are reduced-order models of very highly ...
Atcrank's user avatar
  • 331
17 votes

Why does the Solow Model matter for undergraduate students?

I disagree that: a) The core curriculum should not include things that are relevant only for those pursuing graduate school. b) A university degree should necessarily focus only on career outcomes ...
BB King's user avatar
  • 6,238
17 votes

Why hasn't JPE formally retracted Emily Oster's article "Hepatitis B and the Case of the Missing Women" (2005)?

Why hasn't JPE formally retracted Oster (2005)? In this case there simply is no reason to retract the paper. Academic papers are typically retracted for one of the following reasons: Retraction for ...
1muflon1's user avatar
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15 votes

Criticism of Math in Economics

I think that the opposition to mathematics in Economics mainly has to do with the obstacles it poses to indoctrination. A proposition expressed in terms of a mathematical/logic system is susceptible ...
Iñaki Viggers's user avatar
13 votes

Criticism of Math in Economics

"All models are wrong; some are useful." The title is really all one needs, but to put a few more words behind it, mathematics is very good at deriving detailed results from very specific premises. ...
Cort Ammon's user avatar
12 votes
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Citing non-economics studies in an economics research paper

As long as the main results/conclusions of your paper don't rely solely on the non-economics literature you cite, you should be okay. In other words, it's perfectly fine to use non-economics ...
Herr K.'s user avatar
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12 votes
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Is Basic Economics by Thomas Sowell a good book for a layperson who isn't interested in pursuing economics?

I heard that Basic Economics by Thomas Sowell is a good book for a layperson to get a feel for how the economy works. I have also heard some criticisms but they seem to be based on Thomas Sowell's ...
1muflon1's user avatar
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11 votes

What is the consensus (if any) on Peters "The ergodicity problem in economics" (2019)?

Well there is no opinion poll among economists on specifically this problem, but what can be judged from reaction of economists the consensus is that the Ole Peters paper is misguided and irrelevant ...
1muflon1's user avatar
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10 votes

Fundamental equations in economics

A bit late to the game, but I'm surprised no one has named the equation to calculate OLS estimates: $$ \hat\beta=(X'X)^{-1}X'y $$
Herr K.'s user avatar
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10 votes

Why does the Solow Model matter for undergraduate students?

I second/third/whatever the objection to the "ideal careers" put forth here. Data Analyst - Most of these jobs will go to comp-sci graduates, especially as artificial intelligence and machine ...
heh's user avatar
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9 votes
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Math basics for Macro&Micro economics and econometrics

I recommended familiarity with the following topics: partial differentiation and optimization of multivariate functions study fixed point theorems. Kakutani and Brower are good ideas. Set theory ...
123's user avatar
  • 2,911
9 votes

Contest: earliest written instance of economic thought

Game Theory in the Talmud by Robert J. Aumann discusses a bankruptcy problem and a variety of fair division problems of a contested sum from the Talmud, a document written roughly between 200 and 500 ...
BKay's user avatar
  • 16.3k
8 votes

Why does the Solow Model matter for undergraduate students?

Adding to previous answers ... The basic Solow model is an example of a class of long-term macroeconomic models in which output is a function of inputs of two or more factor inputs and the ratios of ...
Adam Bailey's user avatar
  • 8,529
8 votes

Citing non-economics studies in an economics research paper

There seem to be two things: The first is that "perceived value" is not something that directly corresponds to something economists usually study. It might be related to, say, marriage ...
Michael Greinecker's user avatar
8 votes

What is the consensus (if any) on Peters "The ergodicity problem in economics" (2019)?

Junior econ professor here. I saw Ole Peter's work and I was intrigued, so I actually looked into it to see if there was something original/insightful for me to learn. I even run a little simulation ...
bbecon's user avatar
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8 votes

What is the consensus (if any) on Peters "The ergodicity problem in economics" (2019)?

I’am the guy who wrote the short note that was mentioned in the original question. You can reach the note here. https://osf.io/preprints/socarxiv/axkfg/ I got interested in Peter's paper because of my ...
Luciano Andreozzi's user avatar
8 votes

Learning post-keynesian and marxist economics

.. what explains the lack of pluralism in the current academic landscape? A) This is mostly due to empirical revolution in economics. In the past economics used to have a lot of schools of thought (e....
1muflon1's user avatar
  • 57k
7 votes
Accepted

Foundational equations or concepts of Finance

Considering this is an Economics Stack Exchange site, I’m going to answer in the spectre of Financial Economics. These are the most foundational equations and ideas of Financial Economics to ...
Übel Yildmar's user avatar
7 votes

Why does the Solow Model matter for undergraduate students?

I think that the main reason why the Solow model is a must in every undergrad curriculum is the Solow residual. The fact that the bulk of the differences of per capita income between countries is not ...
Grada Gukovic's user avatar
7 votes
Accepted

Are there any economic peer-reviewed journals dedicated to, or at least committed to publishing, replication studies?

A notable journal that has a dedicated replication section is the Journal of Applied Econometrics, which contains a detailed description on their webpage. Hope this helps!
ChinG's user avatar
  • 1,633
6 votes
Accepted

Why is it called Bayesian Persuasion?

In a standard cheap-talk setting, a sender (S) has better information on a state of the world and wants to communicate this information to a receiver (R) who then takes an action. However, S and R ...
Bayesian's user avatar
  • 5,291
6 votes

What do game theorists think of behavioural economics?

Disclaimer: My academic coming of age was in an environment where behavioral economics played only a minor role. My research is theoretical, both "behavioral and non-behavioral", economics. ...
Bayesian's user avatar
  • 5,291
6 votes

What do game theorists think of behavioural economics?

There are a lot of game theorists quite open to many versions of behavioral economics. That being said, I think there are some reasons why these are still fairly separate areas. I will focus in ...
Michael Greinecker's user avatar
6 votes
Accepted

How can I model my problems with math?

The best way how to learn how to create new models is to see how other people create new models and learn from that. If you are already good at math then you could learn this by observing how models ...
1muflon1's user avatar
  • 57k
6 votes
Accepted

Is it necessary to ask permission before including someone in the acknowledgements of a economic research paper?

In short, no it is not necessary. I have never asked anyone for permission and I have never been asked. The people I thank usually have not read my paper (rarely anyone does, to be honest), but we ...
Bayesian's user avatar
  • 5,291
6 votes

Proof Based Math Education in Economics

I believe there are different goals to undergraduate and (research-oriented) graduate programs. Most undergraduate students will not pursue a career in research. For them, different proof techniques ...
Bayesian's user avatar
  • 5,291

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