Theory Succession, the CAPM, and the APT

Abstract

Philosophers and historians of science, along with scientists themselves, have long been interested in the problem of theory succession: “How does one theory supersede another?” Concern with this general topic has led to the development of two major recent theories regarding the issue. These theories of theory succession have emerged principally from reflection on physics. In the eyes of most scientists, this is probably appropriate, since physics seems to offer (at least to most observers) science in its purest form.

Citation

Kolb, R.W. (1993), "Theory Succession, the CAPM, and the APT", Managerial Finance, Vol. 19 No. 3/4, pp. 1-23. https://doi.org/10.1108/eb013715