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Stong vs. Weak Assumptions

Grape
Posts: 989
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2/27/2011 1:08:47 AM
Posted: 5 years ago
These are the terms used in my economics textbook, which comes from Syracuse University professor Jerry Evensky, to describe how closely an assumption mirrors known reality in an economic model. He uses the term "strong assumption" to refer to an assumption that is very different from reality and "weak assumption" to refer to an assumption that is very plausible (in other works, the words "strong" and "weak" are used as counterintuitively as possible).

Are these terms used anywhere else in economics? I have never seem the used before by anyone. Google and Wikipedia yield nothing. I tried asking the teacher but it is quite apparent that she doesn't know anything about economics.
Thaddeus
Posts: 6,985
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2/27/2011 3:40:44 AM
Posted: 5 years ago
I can't say I have ever heard those terms the course of my economic studies, or in any extra reading I did. (Though I only did a two year course of the IB)
Maybe the text book author was being "original"? (ie sticking some his own ideas in the textbook)
TheAtheistAllegiance
Posts: 1,251
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2/27/2011 3:20:54 PM
Posted: 5 years ago
I've only taken Micro and Macro 101 in college, and the class went through most of the mainstream schools of thought, yet I didn't hear anything about strong and weak assumptions.
djsherin
Posts: 343
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2/27/2011 3:36:08 PM
Posted: 5 years ago
At 2/27/2011 1:08:47 AM, Grape wrote:
These are the terms used in my economics textbook, which comes from Syracuse University professor Jerry Evensky, to describe how closely an assumption mirrors known reality in an economic model. He uses the term "strong assumption" to refer to an assumption that is very different from reality and "weak assumption" to refer to an assumption that is very plausible (in other works, the words "strong" and "weak" are used as counterintuitively as possible).

Are these terms used anywhere else in economics? I have never seem the used before by anyone. Google and Wikipedia yield nothing. I tried asking the teacher but it is quite apparent that she doesn't know anything about economics.

I've never heard the term "strong/weak assumption" before, but I come across the concept all the time. Economics is full of assumptions. I don't actually find strong and weak to be counter-intuitive as they are applied to the word assumption in this case. If you diverge from reality, your assumptions have to be strong, but if not, you don't need very strong assumptions for the model to be true.
TheAtheistAllegiance
Posts: 1,251
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2/27/2011 9:57:32 PM
Posted: 5 years ago
At 2/27/2011 3:36:08 PM, djsherin wrote:

I've never heard the term "strong/weak assumption" before, but I come across the concept all the time. Economics is full of assumptions. I don't actually find strong and weak to be counter-intuitive as they are applied to the word assumption in this case. If you diverge from reality, your assumptions have to be strong, but if not, you don't need very strong assumptions for the model to be true.

Agreed.
belle
Posts: 4,113
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2/27/2011 10:50:24 PM
Posted: 5 years ago
At 2/27/2011 3:36:08 PM, djsherin wrote:
At 2/27/2011 1:08:47 AM, Grape wrote:
These are the terms used in my economics textbook, which comes from Syracuse University professor Jerry Evensky, to describe how closely an assumption mirrors known reality in an economic model. He uses the term "strong assumption" to refer to an assumption that is very different from reality and "weak assumption" to refer to an assumption that is very plausible (in other works, the words "strong" and "weak" are used as counterintuitively as possible).

Are these terms used anywhere else in economics? I have never seem the used before by anyone. Google and Wikipedia yield nothing. I tried asking the teacher but it is quite apparent that she doesn't know anything about economics.

I've never heard the term "strong/weak assumption" before, but I come across the concept all the time. Economics is full of assumptions. I don't actually find strong and weak to be counter-intuitive as they are applied to the word assumption in this case. If you diverge from reality, your assumptions have to be strong, but if not, you don't need very strong assumptions for the model to be true.

it makes perfect sense once you know what the terms mean, but my intuition was in line with grape's- a "strong" assumption is one that is well supported so can do a lot of work in your theory. oh well.
evidently i only come to ddo to avoid doing homework...