The dangers of excessive ambitions within the social sciences - Jon Elster replies
Published on Jun 07, 2013
Part 4: Jon Elster answers to comments from Tore Ellingsen and Bengt Hansson.
In this lecture Jon Elster diagnoses this flaw and discusses possible remedies. He argues that actual agents are intrinsically less sophisticated than the models assume them to be, and that the various proposals to sustain the models by appealing to "as-if rationality" all fail. He considers behavioral economics as an alternative to the standard models, claiming that while behavioral economics may allow for successful retrodiction, it does not hold out much promise for prediction. Finally, he offers some speculations to explain the persistence in the economic profession and elsewhere of these useless or harmful models.
The lecture will be followed by comments from:
Tore Ellingsen, Professor of Economics at the Stockholm School
Bengt Hansson, Professor of Philosophy at Lund University
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