Certainly, there is no general principle that prevents the creation of an economic theory based on other hypotheses than that of rationality. (Kenneth Arrow)

Certainly, there is no general principle that prevents the creation of an economic theory based on other hypotheses than that of rationality.

Kenneth Arrow

Related topics

general hypothesis

Related quotes

The data that can bear on the confirmation of perceptual hypotheses includes, in the general case, considerably less than the organism may know. View quote
Jerry Fodor
General relativity is certainly a very beautiful theory, but how does one judge the elegance of physical theories generally? View quote
Roger Penrose
In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth. View quote
Martin Feldstein
The most general law in nature is equity-the principle of balance and symmetry which guides the growth of forms along the lines of the greatest structural efficiency. View quote
Herbert Read
We look upon economic theory as a sequence of conceptual models that seek to express in simplified form different aspects of an always more complicated reality. View quote
Tjalling Koopmans