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It is closely tied to many of the most important theorems in these fields, including Arrow's impossibility theorem, the Balinski-Young theorem, and the money pump arguments. In behavioral economics, failures of IIA (caused by irrationality) are called menu effects or menu dependence. [3]
Intrinsic, or Integrity: Argument from intrinsic values is a type of Inherency argument, whereas argument from Integrity is a Justification argument; it has rarely been argued the other way around, that intrinsic values belong to Justification and integrity belongs to Inherency, because that is the presumption of the status quo, and the ...
Economic ethics is the combination of economics and ethics, incorporating both disciplines to predict, analyze, and model economic phenomena. It can be summarised as the theoretical ethical prerequisites and foundations of economic systems.
Defeasibility is found in literatures that are concerned with argument and the process of argument, or heuristic reasoning. Defeasible reasoning is a particular kind of non-demonstrative reasoning , where the reasoning does not produce a full, complete, or final demonstration of a claim, i.e., where fallibility and corrigibility of a conclusion ...
In the philosophy of economics, economics is often divided into positive (or descriptive) and normative (or prescriptive) economics.Positive economics focuses on the description, quantification and explanation of economic phenomena, [1] while normative economics discusses prescriptions for what actions individuals or societies should or should not take.
In this case, the justification of any statement is used, perhaps after a long chain of reasoning, in justifying itself, and the argument is circular. This is a version of coherentism . Coherentism is the belief that an idea is justified if and only if it is part of a coherent system of mutually supporting beliefs (i.e., beliefs that support ...
The examples and perspective in this article deal primarily with the United States and the United Kingdom and do not represent a worldwide view of the subject. You may improve this article , discuss the issue on the talk page , or create a new article , as appropriate.
Use of the phrase "working hypothesis" goes back to at least the 1850s. [7]Charles Sanders Peirce came to hold that an explanatory hypothesis is not only justifiable as a tentative conclusion by its plausibility (by which he meant its naturalness and economy of explanation), [8] but also justifiable as a starting point by the broader promise that the hypothesis holds for research.