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- W2566436602 abstract "An instrument that can produce something from nothing would be an object to cherish, and the correspondence principle introduced by Paul Samuelson, seems to fill that bill.' Its proponents would have one believe that the common knowledge that the economy really stable can be transformed into a multitude of useful facts about comparative statics properties. But unfortunately it seems that there still is no such thing as a free lunch. In this paper I will argue that useful information is not as cheap as users of the correspondence principle would lead one to believe, and in doing so I will show that the correspondence principle is a superfluous item in the determination of operationally meaningful and empirically valid propositions in comparative statics. I will also argue that there is no explanation for the importance -that is publishability -attributed to use of the correspondence principle other than the illusion that it produces something from nothing.2" @default.
- W2566436602 created "2017-01-06" @default.
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- W2566436602 date "1971-03-01" @default.
- W2566436602 modified "2023-10-16" @default.
- W2566436602 title "The Correspondence Principle: A Superfluous Tool of Economic Analysis" @default.
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- W2566436602 doi "https://doi.org/10.1080/00213624.1971.11502962" @default.
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