Mr Hanson's answer to the following question sets their differences in relief:
For good policy advice, what is the best weight to place on economic theory, versus (individual or cultural) intuitive judgment?
Mr Hanson:
My guess is over 75% weight, so I try to mostly just straightforwardly apply economic theory, adding little personal or cultural judgment.
Mr Cowen replies:
Theories are always applied and interpreted through our personal and cultural filters and there is no other way it can be. Robin believes in an Archimedean point for using theory, I do not.
Thursday, 20 December 2007
Cowen v. Hanson
At Free Exchange they are commenting on the ongoing debate between Tyler Cowen and Robin Hanson on method in economics. They write,
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