Microeconomics
13th Edition
ISBN: 9781337617406
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 19, Problem 1QP
To determine
Explain the significance of judging theories based on prediction rather than the way its sounds.
Expert Solution & Answer
Explanation of Solution
Predictions are a stepping stone of believing or not believing a theory because sometimes people want to believe some theories over others, as the theory seems to confirm what people already believe. In real life, before 1960s, people had no idea about wireless mobile phones until its invention. Therefore, people believed that the landline mobile phones is the final invention. However, a scientist predicts with the evidence of technological changes that people will use wireless mobile phones in the future. Since people accept theory because the evidence of the prediction seems to confirm the beliefs of the individuals. Therefore, prediction has more importance than a theory sounds good to people.
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