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Theory versus Application: Does Complexity Crowd Out Evidence?
Author(s) -
Coelho Philip R. P.,
McClure James E.
Publication year - 2005
Publication title -
southern economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.762
H-Index - 58
eISSN - 2325-8012
pISSN - 0038-4038
DOI - 10.1002/j.2325-8012.2005.tb00658.x
Subject(s) - operationalization , crowds , crowding , crowding out , positive economics , test (biology) , economics , psychology , epistemology , macroeconomics , mathematics , cognitive psychology , statistics , biology , ecology , philosophy
Donald F. Gordon hypothesized that mathematical complexity in economics is inversely related to operational ism. Here we (i) operationalize Gordon's hypothesis, (ii) test for the significance of trends in complexity for the American Economic Review, Economic Journal, Journal of Political Economy , and Quarterly Journal of Economics , and (iii) test Gordon's hypothesis hy conducting analyses of the contents of articles from the American Economic Review ( AER ), as well as the contents of articles citing the AER articles. The results do not refute the hypothesis that complexity crowds out operationalism in economics. Additionally, the presence of significant, positive trends toward complexity suggests that the magnitude of the crowding out is on the rise in these journals.