Something to Consider • 1019 implied HN points • 07 Jul 24
- Psychology lacks a solid theoretical framework, making it difficult to draw reliable conclusions from research. Without a guiding theory, findings can feel random and disconnected.
- Economics, on the other hand, is built on clear theories that help explain and predict human behavior in markets. These theories allow economists to make strong and testable predictions.
- A theory in economics helps researchers know what to expect, and it can influence actual outcomes in the real world, unlike the often unclear results in psychology.