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Re:Wall Street Banks Warn Downturn Is Coming by collyw on Thursday August 24, 2017 @04:52AM (#15088560)
I would love to read some "experimentally verified" economics, as it is something that economics seems to be lacking.
Re:Wall Street Banks Warn Downturn Is Coming by drabiega on Thursday August 24, 2017 @09:51AM (#15090086)
Experimental econ is a fairly large sub-field that is very useful for micro phenomena.

Unfortunately because even the micro phenomena are complex and difficult to quantify, you can't reliably use micro knowledge to mathematically predict macro phenomena the way you could in something like physics.

Since the economics that most non-economists really care about are all macro stuff, this tends to mean that people are not really aware of experimental econ. It's still useful in cases like this, though: You can't experimentally confirm the actual causes of boom and bust cycles, for instance, but you can show that certain conditions are sufficient for the emergence of boom and bust cycles.