Where theory lags behind the facts, we are dealing with miserable degenerating research programmes.


Imre Lakatos (1978, p. 6), cited in: Vernon L. Smith (1989), "Theory, experiment and economics." The Journal of Economic Perspectives 3 (1): 168.


Where theory lags behind the facts, we are dealing with miserable degenerating research programmes.

Where theory lags behind the facts, we are dealing with miserable degenerating research programmes.

Where theory lags behind the facts, we are dealing with miserable degenerating research programmes.

Where theory lags behind the facts, we are dealing with miserable degenerating research programmes.