Pillai N., Vijayamohanan (2008): In Quest of Truth: The War of Methods in Economics.

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Abstract
The present paper discusses the ‘battle of methods’ in economics in its epistemic pursuit in the framework of a dialectics between science and art. The traditional distinction between deduction and induction has come to be characterized as a ‘theorydata confrontation’; while the former a priori approach has flourished in terms of mathematical economics, the inductive approach has fulfilled its mission through econometrics and experimental economics. The paper outlines the recent trends in econometrics and experimental economics in the context of empirical pursuit. We conclude the study, reiterating the contemporary consensus on the complementary roles of the two approaches: a theorydata confluence, not in a static, but in a dialectical framework.
Item Type:  MPRA Paper 

Original Title:  In Quest of Truth: The War of Methods in Economics 
Language:  English 
Keywords:  Economic Methodology, Deduction, Induction, Dialectics, Mathematics, Econometrics 
Subjects:  B  History of Economic Thought, Methodology, and Heterodox Approaches > B2  History of Economic Thought since 1925 > B23  Econometrics ; Quantitative and Mathematical Studies B  History of Economic Thought, Methodology, and Heterodox Approaches > B1  History of Economic Thought through 1925 > B16  Quantitative and Mathematical B  History of Economic Thought, Methodology, and Heterodox Approaches > B0  General > B00  General B  History of Economic Thought, Methodology, and Heterodox Approaches > B4  Economic Methodology > B41  Economic Methodology 
Item ID:  8866 
Depositing User:  Vijayamohanan Pillai N 
Date Deposited:  26. May 2008 08:14 
Last Modified:  12. Feb 2013 15:26 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/8866 