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The hypothesis of Andreas Cellarius, showing the planetary motions in eccentric and epicyclical orbits. A hypothesis (pl.: hypotheses) is a proposed explanation for a phenomenon. A scientific hypothesis must be based on observations and make a testable and reproducible prediction about reality, in a process beginning with an educated guess or ...
A hypothesis by economic historians Kenneth Sokoloff and Stanley Engerman suggested that factor endowments are a central determinant of structural inequality that impedes institutional development in some countries. Sokoloff and Engerman proposed that in the 19th century, countries such as Brazil and Cuba with rich factor endowments such as ...
Economic methodology is the study of methods, especially the scientific method, in relation to economics, including principles underlying economic reasoning. [1] In contemporary English, 'methodology' may reference theoretical or systematic aspects of a method (or several methods).
However, the Walrasian general equilibrium theory presents another trend to the synthesis as it attempts to theorise the economy as a whole and is viewed as an alternative to macroeconomics. This approach is considered to be the trigger for exploring microfoundations, [ 1 ] however, the notion of a gap in the "micro-macro" link has been and ...
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes.
investigations that do or do not provide a potentially falsifying test of the hypothesis. [7] Evidence contrary to a hypothesis is itself philosophically problematic. Such evidence is called a falsification of the hypothesis. However, under the theory of confirmation holism it is always possible to save a given hypothesis from falsification ...
In short, a hypothesis is testable if there is a possibility of deciding whether it is true or false based on experimentation by anyone. This allows anyone to decide whether a theory can be supported or refuted by data. However, the interpretation of experimental data may be also inconclusive or uncertain.
For Putnam, the working hypothesis represents a practical starting point in the design of an empirical research exploration. A contrasting example of this conception of the working hypothesis is illustrated by the brain-in-a-vat thought experiment. This experiment involves confronting the global skeptic position that we, in fact, are all just ...