Abstract:Neuroeconomics has the potential to fundamentally change the way economics is done. This article identifies the ways in which this will occur, pitfalls of this approach, and areas where progress has already been made. The value of neuroeconomics studies for social policy lies in the quality, replicability, and relevance of the research produced. While most economists will not contribute to the neuroeconomics literature, we contend that most economists should be reading these studies.
“…German-speaking scholars in particular seem to have increasingly tur ned toward different methods and aspects of building social theory that go beyond a narrow conception of theory as set of falsifiable propositions (e.g., Anicker, 2020;Büttner, 2021;Beregow, 2021;Farzin & Laux, 2014;Farzin & Laux, 2016;Krämer, 2015). Furthermore, the practice of doing theory has to be reflected as a social activity (not only the activity of an individual genius or craftsperson) that needs a sound basis in experience and existing thought, but that is not automatically without biases because it is done systematically, and that always requires a critically distance to previous approaches.…”
While the so-called replication crisis is increasingly discussed and addres sed through reformed research practices and institutional structures, this contribution diagnoses a theory or interpretation crisis and argues that the current emphasis on transparency, reproducibility, and reliability should be complemented by stronger efforts in terms of theory and validity. The article identifies different types of unsystematic (e.g., ad hoc, asymmetric, or trivial) theory building. Furthermore, objects of investigation, measure ments, and findings are not interpreted carefully in the light of sufficiently elaborate and well-justified theoretical concepts or frameworks. Different consequences of such shortcomings are discussed-whether unfruitful or implausible hypotheses are tested or the implications of findings are re main poorly understood or are not critically reflected. Readers are invited to engage not only with methodological literature and previous research, but also with theoretical works and particularly with literature on methods or strategies of theorizing, and to practice theory building based on a clearer understanding of the multiple meanings and functions of theory.
“…German-speaking scholars in particular seem to have increasingly tur ned toward different methods and aspects of building social theory that go beyond a narrow conception of theory as set of falsifiable propositions (e.g., Anicker, 2020;Büttner, 2021;Beregow, 2021;Farzin & Laux, 2014;Farzin & Laux, 2016;Krämer, 2015). Furthermore, the practice of doing theory has to be reflected as a social activity (not only the activity of an individual genius or craftsperson) that needs a sound basis in experience and existing thought, but that is not automatically without biases because it is done systematically, and that always requires a critically distance to previous approaches.…”
While the so-called replication crisis is increasingly discussed and addres sed through reformed research practices and institutional structures, this contribution diagnoses a theory or interpretation crisis and argues that the current emphasis on transparency, reproducibility, and reliability should be complemented by stronger efforts in terms of theory and validity. The article identifies different types of unsystematic (e.g., ad hoc, asymmetric, or trivial) theory building. Furthermore, objects of investigation, measure ments, and findings are not interpreted carefully in the light of sufficiently elaborate and well-justified theoretical concepts or frameworks. Different consequences of such shortcomings are discussed-whether unfruitful or implausible hypotheses are tested or the implications of findings are re main poorly understood or are not critically reflected. Readers are invited to engage not only with methodological literature and previous research, but also with theoretical works and particularly with literature on methods or strategies of theorizing, and to practice theory building based on a clearer understanding of the multiple meanings and functions of theory.
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