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Is formalism the key to resolving the generalizability crisis? An experimental economics perspective
1Economics Department and Center for Economic Policy Research, University of Cyprus, CY-1678 Nicosia, Cyprus and Department of Economics, School of Social Sciences, School of University of Southampton Highfield Campus, SouthamptonSO17 1BJ, UK. z.maniadis@soton.ac.uk; https://sites.google.com/site/zachariasmaniadiswebpage/.
Abstract:
I draw lessons from experimental economics. I argue that the lack of mathematical formalism cannot be usefully thought as the cause of the underappreciation of contextual and generalizability considerations. Instead, this lack is problematic because it hinders a clear relationship between theory and quantitative predictions. I also advocate a pragmatic policy-focused approach as a partial remedy to the generalizability problem.
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