“A theory is only as good as its assumptions. If the premises are false, the theory has no real scientific value. The only scientific criterion for judging the validity of a scientific theory is a confrontation with the data of experience.”
Quote by Maurice Allais
Author
Maurice Allais
Maurice Allais was a French economist born on May 31, 1911, and died on October 9, 2010. He had a profound impact on the field of economics, particularly in the area of consumer choice theory. more
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