All of decision theory will be relevant. Either to rationalize all garbage produced by empirical knuckleheads or to rebuild econ after we understand that the credibility revolution did more harm than good.If you have not noticed, 90% of decision theory is written about unobservable primitives. At least 10% of published papers have wrong results. It is bad out there.
Only 10% wrong is better than empirical work were the rate appears to be somewhere between 40% and 60% wrong.
All of decision theory will be relevant. Either to rationalize all garbage produced by empirical knuckleheads or to rebuild econ after we understand that the credibility revolution did more harm than good.If you have not noticed, 90% of decision theory is written about unobservable primitives. At least 10% of published papers have wrong results. It is bad out there.
Only 10% wrong is better than empirical work were the rate appears to be somewhere between 40% and 60% wrong.
better, but empirical is about observable stuff, which makes it harder