Abstract
This entry maps the use of ampliative inference or abduction in economics. Abduction does not just integrate numerous economic concepts but has been in continuous use since classical economics. The integration of abductive elements in economics is better understood after Charles Sander Peirce’s (1839–1914) clear delineation of a logic underlying ampliative inference. His methodology of science, which includes abductive inference as the initial step that suggests novel explanatory hypotheses to be tested, can integrate the prevalent (Millian) deductivist and (Popperian) falsificationist methodologies among economists. Although the current interest in abduction in economics has taken root within a very diverse group of scholars, their account of abduction reveals significant overlaps on the importance of experience, intuition, creativity, and detective-like research instead of mechanical textbook-like procedures. Such consensus among heterogenous schools of thought in economics on the most important elements of research in their discipline highlights their shared elements and can contribute to the unification of the discipline.
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Mabsout, R. (2022). Abduction and Economics. In: Magnani, L. (eds) Handbook of Abductive Cognition. Springer, Cham. https://doi.org/10.1007/978-3-030-68436-5_55-1
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