Procedural rationality

4 Model validation and verification

The validation of a computer program is the process of applying formal methods to ensure that a program design will achieve what is expected of it in appropriate conditions and, in particular, that it will not get into a confused or illegal state. If a program runs without error in any computer programming language, then that program is consistent and sound relative to that language. That is, the program does not generate or entail mutually contradictory statements and it does not generate statements which the language does not support. Consequently, program validation entails ascertaining that the program is consistent and sound relative to a formal statement of the properties of the programming language.

In this section, I argue that validation should be an important issue in the specification of economic models and, in particular, of economic cognition. Two aspects of validation are considered: validation with respect to logical formalisms and validation with respect to cognitive theories.

4.1 - Logical validation
4.2 - Theoretical validation
4.3 - Verification

Procedural rationality - 09 DEC 97

[Next] [Previous] [Top] [Contents]

Generated with CERN WebMaker