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SUMMARY:Economic Theory: Consistency and Rhetoric? - Stuart Birks (Massey 
 University\, New Zealand)
DTSTART:20111114T200000Z
DTEND:20111114T220000Z
UID:TALK33953@talks.cam.ac.uk
CONTACT:Cambridge Social Ontology Group
DESCRIPTION:This paper considers the role of theory in our understanding o
 f economic phenomena. While theoretical findings are sometimes claimed to 
 have direct\, real world relevance\, this is based on rhetoric rather than
  logic. Theory can and has been considered as analogy\, metaphor or framin
 g. These aspects are discussed\, along with the suitability of theoretical
  formulations\, in particular perfect competition\, as a basis for real wo
 rld decisions. The issue of consistency is considered in relation to theor
 y. Alternative interpretations are illustrated using the Tversky and Kahne
 man life/death rational choice case. These suggest that insufficient atten
 tion may be given to simplifying assumptions\, or to the possibility of al
 ternative explanations that are also consistent with the evidence. The rhe
 toric of acceptance and rejection of theory is then considered\, and resul
 ts are placed in the context of group membership and perspectives.
LOCATION:Clare College\, Trinity Lane Cambridge\, CB2 1TL\, in the Latimer
  Room\, in the Old Court
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