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This paper in Management Science has been cited more than 6,000 times. It’s fatally flawed.
(statmodeling.stat.columbia.edu)
this post was submitted on 25 Jan 2026
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The waters are getting muddy once we start discussing hard & soft sciences, beliefsystems and politics.
But economics only works because of its underlying premises . These premises can be eroded, like: trust, open and transparent market, and trade, iirc.
And the changes to the underlying premises as well as their impacts are part of the study of economics.