01:790:102 Lecture Notes - Lecture 3: Spatial Analysis, Moral Hazard, Global Warming
28 Mar 2017
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Document Summary
Theory an explanation for a pattern of events. The more general and encompassing a theory is, the more useful it is. Has to be empirically supported to be considered reliable, valid. A bad explanation could still be a theory. Empiricism any argument could be considered knowledge if it"s empirically supported. When there"s alternative theories, pick the better one based on how much more evidence it"s supported by. True premisesthen the conclusion logically deducted from the combination of the premises is necessarily true. Don"t need prior beliefs about how the world works. Still a possibility that conclusion is wrongb/c it"s based on observation. Theory into a hypothesisconverting vague concepts into measurable variables. Set assumptions in order to simplify the world. We have a problem with the assumptions (hinders the logical flaw of assumptions conclusion) when they are not empirically supported. Theory is true or false depending on its logical consistency. Theory is useful or not depending on its empirical value.
