Two models of social learning in networks, with concepts drawn from economics and physics
1 Department of Economics, The Pennsylvania State University, State College, USA
2 Economic Research Unit, Indian Statistical Institute, Calcutta, India
Received: 30 June 2016
Revised: 15 September 2016
Published online: 22 December 2016
In this paper, we consider the status of economics as a science, especially as compared to the most successful of sciences, physics, and formulate this in terms of the Popperian notion of criticisability (an extension of his earlier falsifiability demarcation criterion between science and other studies). We then discuss how methods having some similarity to models prevalent in physics might help elucidate dynamic analyses of heuristic learning in economics, though each of the two felds has a unique conceptual framework.
© EDP Sciences, Springer-Verlag, 2016