ABSTRACT
The chapter points out that practical work experience might help researchers to identify relevant research topics, and, importantly, strengthen their ability to sort out very unrealistic theories. Practical experience could provide insights into the situational logic agents in the economy face and might therefore serve as a benchmark against which we could evaluate economic studies. Of course, every theoretical insight generated by practitioners would have to pass through rigorous empirical testing, too. The central contribution of practical experience will be its role as a filter to prevent the creation and propagation of false feedback, and, when necessary, take on its role in eliminating false theories.
