tag:blogger.com,1999:blog-2469651337011218314.post4913752200491407577..comments2017-05-18T05:19:13.445-04:00Comments on <center><hr>UPDATED PRIORS<hr></center>: A comment on math and economicsRyan Deckernoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2469651337011218314.post-66534966482173015592014-04-27T10:28:24.888-04:002014-04-27T10:28:24.888-04:00A good argument, and I agree that both math and na...A good argument, and I agree that both math and narrative are useful tools. However, I think that there is a deeper difference between mathematical and narrative approaches that often make their assimilation difficult and which may be a source of discontent for the anti-math lobby. Mathematical models begin with a priori assumptions and then analyse what follows from these assumptions. Whereas, the narrative approach (generally) begins with empirical facts and then ask what the world must be like to produce such facts. Certainly, there may be some convergence between the two approaches, and both have their place and both make many simplifying assumption. But, they are fundamentally different in their underlying philosophy - one is deductive, the other inductive.Samuel Watsonhttp://www.blogger.com/profile/16981375563632289111noreply@blogger.com