Reflexivity and Economics: George Soros's Theory of Reflexivity and the Methodology of Economic Science

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The form of `reflexivity' - defined by the dictionary as that which is `directed back upon itself' - that is most relevant to economic methodology is that where observation of the economy leads to ideas that change behavior, which in turn changes (is directed back upon) the economy itself. As George Soros explains: "if investors believe that markets are efficient then that belief will change the way they invest, and that in turn will change the nature of the markets they are observing ... That is the principle of ...

Reflexivity and Economics: George Soros's theory of reflexivity and the methodology of economic science 2016, Routledge, London

ISBN-13: 9781138203488