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Confirmation by Robustness Analysis: A Bayesian Account
Lorenzo Casini1, Jürgen Landes2
1Institute of Economics, Sant'Anna School of Advanced Studies, Pisa, Italy.
Summary
Robustness analysis of minimal models can confirm hypotheses, but its effectiveness depends on specific contexts. This Bayesian approach clarifies the epistemic value of minimal models in scientific confirmation.
Area of Science:
- Philosophy of Science
- Epistemology
- Scientific Modeling
Background:
- Minimal models are debated for their epistemic value.
- Robustness analysis is proposed for hypothesis confirmation but faces resistance.
- Bayesian frameworks offer a potential rationalization for robustness analysis.
Purpose of the Study:
- To provide a Bayesian rationalization for robustness analysis in confirming hypotheses.
- To explore the confirmatory potential of minimal models.
- To identify conditions under which robustness analysis is detrimental to confirmation.
Main Methods:
- Bayesian rationalization of robustness analysis.
- Case study from macroeconomics.
- Analysis of evidential variety.
Main Results:
- Robustness analysis over minimal models can indeed confirm hypotheses.
- The confirmatory value is context-dependent.
- Specific cases where robustness analysis hinders confirmation were identified and linked to evidential variety.
Conclusions:
- Robustness analysis, when applied to minimal models, can serve a confirmatory role.
- The epistemic benefits of robustness analysis are contingent on specific circumstances.
- Understanding evidential variety is crucial for assessing the impact of robustness analysis.
Keywords:
Agent-based modelsConfirmationMinimal modelsRobustness analysisStylized facts of financeVariety of evidenceMore Related Videos
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