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  1. Nabil I. Al-Najjar & Jonathan Weinstein (2009). Rejoinder: The “Ambiguity Aversion Literature: A Critical Assessment”. Economics and Philosophy 25 (3):357-369.
  2. John Aldrich (2006). When Are Inferences Too Fragile to Be Believed? Journal of Economic Methodology 13 (2):161-177.
    The use of sensitivity analysis is routine in some fields of empirical econometrics, although econometric theorists have generally taken a critical attitude towards it. This paper presents a framework in which arguments for and against such analysis can be evaluated. It appears that sensitivity is not necessarily a bad, nor sturdiness necessarily a good.
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  3. John Aldrich & Anna Staszewska (2007). The Experiment in Macroeconometrics. Journal of Economic Methodology 14 (2):143-166.
    This paper examines the experiment in macroeconometrics, the different forms it has taken and the rules that have been proposed for its proper conduct. Here an ?experiment? means putting a question to a model and getting an answer. Different types of experiment are distinguished and the justification that can be provided for a particular choice of experiment is discussed. Three types of macroeconometric modelling are considered: the Cowles (system of equations) approach, the vector autoregressive model approach and the computational experiment. (...)
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  4. Paul Anand (2003). Does Economic Theory Need More Evidence? A Balancing of Arguments. Journal of Economic Methodology 10 (4):441-463.
    This article seeks to provide a characterization of theory prevalent in economics and found in many areas of social and natural science, particularly those that make increasing use of rational choice perspectives. Four kinds of theoretical project are identified in which empirical evidence plays a relatively small role in theory acceptance. The paper associates the minor role of evidence in theory formation and acceptance to a need to answer counterfactual questions and argues that is not necessarily incompatible with accounts of (...)
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  5. Richard G. Anderson, William H. Greene, B. D. McCullough & H. D. Vinod (2008). The Role of Data/Code Archives in the Future of Economic Research. Journal of Economic Methodology 15 (1):99-119.
    This essay examines the role of data and program?code archives in making economic research ?replicable.? Replication of published results is recognized as an essential part of the scientific method. Yet, historically, both the ?demand for? and ?supply of? replicable results in economics has been minimal. ?Respect for the scientific method? is not sufficient to motivate either economists or editors of professional journals to ensure the replicability of published results. We enumerate the costs and benefits of mandatory data and code archives, (...)
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  6. Erik Angner (2006). Economists as Experts: Overconfidence in Theory and Practice. Journal of Economic Methodology 13 (1):1-24.
    Drawing on research in the psychology of judgment and decision making, I argue that individual economists acting as experts in matters of public policy are likely to be victims of significant overconfidence. The case is based on the pervasiveness of the phenomenon, the nature of the task facing economists?as?experts, and the character of the institutional constraints under which they operate. Moreover, I argue that economist overconfidence can have dramatic consequences. Finally, I explore how the negative consequences of overconfidence can be (...)
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  7. G. C. Archibald (1979). Method and Appraisal in Economics. Philosophy of the Social Sciences 9 (3):304-315.
  8. N. Emrah Aydinonat (2012). The Two Images of Economics: Why the Fun Disappears When Difficult Questions Are at Stake? Journal of Economic Methodology 19 (3):243-258.
    The image of economics got somewhat puzzling after the crisis of 2008. Many economists now doubt that economics is able to provide answers to some of its core questions. The crisis was not so fun for economics. However, this not so fun image of economics is not the only image in the eyes of the general public. When one looks at economics-made-fun (EMF) books (e.g. Freakonomics, The Undercover Economist, etc.), economics seems to be an explanatory science which is able to (...)
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  9. N. Emrah Aydinonat (2010). Neuroeconomics: More Than Inspiration, Less Than Revolution. Journal of Economic Methodology 17 (2):159-169.
    Gul and Pesendorfer (2008) argue that neuroeconomics is evidentially and explanatorily irrelevant to economics, because neuroeconomics and economics ask different questions and utilize different abstractions. They suggest neuroeconomics is only relevant as a source of inspiration for economists. The present paper accepts their basic premise and asks whether the fact that neuroeconomics and economics ask different questions implies that neuroeconomics is irrelevant. The paper argues that Gul and Pesendorfer overlook some important respects in which neuroeconomics is relevant for economics. First, (...)
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  10. Roger E. Backhouse (2011). New Directions in Economics and the Philosophy of Economics? The Oxford Handbook of Philosophy of Economics. Journal of Economic Methodology 18 (3):305-311.
  11. Roger E. Backhouse (2004). Reflection Without Rules: Economic Methodology and Contemporary Science Theory, by Wade Hands. Cambridge University Press 2001, XI + 480 Pages. [REVIEW] Economics and Philosophy 20 (1):234-240.
  12. Roger E. Backhouse (1997). An 'Inexact' Philosophy of Economics? Economics and Philosophy 13 (01):25-.
  13. Roger E. Backhouse (1994). The Fixation of Economic Beliefs. Journal of Economic Methodology 1 (1):33-42.
  14. Roger E. Backhouse & Matthias Klaes (2009). Applying Economics, Using Evidence. Journal of Economic Methodology 16 (2):139-144.
    Traditionally, evidence in economics has been seen in the context of theory choice. Much of recent methodological debate on the role of evidence has turned on the recognition that the status and role of evidence is somewhat more involved in economics than the conventional wisdom suggests. Rather than approaching this question in general terms from a starting point of philosophy of science or even science studies, our aim in this introduction to a symposium of articles on evidence in economics is (...)
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  15. Roger E. Backhouse & Mary S. Morgan (2000). Introduction: Is Data Mining a Methodological Problem? Journal of Economic Methodology 7 (2):171-181.
    This survey of the symposium papers argues that the problem of data mining should be of interest to both practicing econometricians and specialists in economic methodology. After summarizing some of the main points to arise in the symposium, it draws on recent work in the philosophy of science to point to parallels between data mining and practices engaged in routinely by experimental scientists. These suggest that data mining might be seen in a more positive light than conventional doubts about it (...)
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  16. Roger Backhouse & Andrea Salanti (1999). The Methodology of Macroeconomics. Journal of Economic Methodology 6 (2):159-169.
    This paper outlines some of the main methodological issues to arise in macroeconomics, making the case that the methodological issues arising in macroeconomics are just as important as those arising in microeconomics and that they merit more attention. Focusing on the symposium to which it forms the Introduction, the paper discusses three such issues: can macroeconomic theories be tested? Do macroeconomic theories change in response to evidence? Is contemporary macroeconomics in good methodological shape?
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  17. Nicholas Bardsley (2005). Experimental Economics and the Artificiality of Alteration. Journal of Economic Methodology 12 (2):239-251.
    A neglected critique of social science laboratories alleges that they implement phenomena different to those supposedly under investigation. The critique purports to be conceptual and so invulnerable to a technical solution. I argue that it undermines some economics designs seeking to implement features of real societies, and counsels more modesty in experimental write?ups. It also constitutes a plausible argument that laboratory economics experiments are necessarily less demonstrative than natural scientific ones. More radical sceptical conclusions are unwarranted.
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  18. Gregor Betz (2006). Prediction or Prophecy? The Boundaries of Economic Foreknowledge and Their Socio-Political Consequences. DUV.
    Gregor Betz explores the following questions: Where are the limits of economics, in particular the limits of economic foreknowledge? Are macroeconomic forecasts credible predictions or mere prophecies and what would this imply for the way economic policy decisions are taken? Is rational economic decision making possible without forecasting at all?
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  19. Marina Bianchi (1994). Truth Versus Precision in Economics, Mayer Thomas. Aldershot: Edward Elgar, 1993. Economics and Philosophy 10 (01):145-.
  20. G. Bimonte (2010). Predictability of SOC Systems. Technological Extreme Events. In Marisa Faggini, Concetto Paolo Vinci, Antonio Abatemarco, Rossella Aiello, F. T. Arecchi, Lucio Biggiero, Giovanna Bimonte, Sergio Bruno, Carl Chiarella, Maria Pia Di Gregorio, Giacomo Di Tollo, Simone Giansante, Jaime Gil Aluja, A. I͡U Khrennikov, Marianna Lyra, Riccardo Meucci, Guglielmo Monaco, Giancarlo Nota, Serena Sordi, Pietro Terna, Kumaraswamy Velupillai & Alessandro Vercelli (eds.), Decision Theory and Choices: A Complexity Approach. Springer Verlag Italia. 221--234.
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  21. Ivan A. Boldyrev (2011). Economic Methodology: Understanding Economics as a Science. Journal of Economic Methodology 18 (4):427-432.
  22. Jesus P. Zamora Bonilla (2001). Where is Economic Methodology Going? Journal of Economic Methodology 8 (1):135-138.
  23. Bryan L. Boulier & Robert S. Goldfarb (1998). On the Use and Nonuse of Surveys in Economics. Journal of Economic Methodology 5 (1):1-21.
    While it is widely alleged that economists do not like or use questionnaire surveys, the facts are considerably more complicated. Economists make extensive use of survey information on such things as prices and employment, and the use of ?contingent valuation? surveys has exploded recently. The paper reviews the historical debate that led to economists? seeming distrust of surveys. It then investigates why there is extensive use of surveys in the face of methodological strictures against survey use. To do this, the (...)
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  24. Marcel Boumans (2012). Measurement in Economics. In Uskali Mäki, Dov M. Gabbay, Paul Thagard & John Woods (eds.), Philosophy of Economics. North Holland. 395.
  25. Marcel J. Boumans, Measurement in Economic Systems.
    The metrology literature neglects a strong empirical measurement tradition in economics, which is different from the traditions as accounted for by the formalist representational theory of measurement. This empirical tradition comes closest to Mari's characterization of measurement in which he describes measurement results as informationally adequate to given goals. In economics, one has to deal with soft systems, which induces problems of invariance and of self-awareness. It will be shown that in the empirical economic measurement tradition both problems have been (...)
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  26. Marcel Boumans & Mary S. Morgan (2001). Ceteris Paribus Conditions: Materiality and the Application of Economic Theories. Journal of Economic Methodology 8 (1):11-26.
  27. Alon Brav, J. B. Heaton & Alexander Rosenberg (2004). The Rational-Behavioral Debate in Financial Economics. Journal of Economic Methodology 11 (4):393-409.
    The contest between rational and behavioral finance is poorly understood as a contest over 'testability' and 'predictive success.' In fact, neither rational nor behavioral finance offer much in the way of testable predictions of improving precision. Researchers in the rational paradigm seem to have abandoned testability and prediction in favor of a scheme of ex post 'rationalizations' of observed price behavior. These rationalizations, however, have an unemphasized relevance for behavioral finance. While behavioral finance advocates may justly criticize rationalizations as unlikely (...)
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  28. Michal Brzezinski & Michal Dzielinski (2009). Is Endogenous Growth Theory Degenerating? Another Look at Lakatosian Appraisal of Growth Theories. Journal of Economic Methodology 16 (3):243-263.
    In a recent paper, Cavusoglu and Tebaldi (2006) provided an evaluation of neoclassical and endogenous growth theories according to Lakatos's methodology of scientific research programmes. This paper offers three criticisms of their contribution as well as a rival Lakatosian appraisal of growth theories. First, we hold that Cavusoglu and Tebaldi do not provide a proper structure of theory comparison in their contribution. Second, we argue that they use an inadequate version of Lakatos's appraisal criterion. Third, against the claim (...)
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  29. Andrew Caplin (2011). Experimental Economics: Rethinking the Rules, Nicholas Bardsley, Robin Cubitt, Graham Loomes, Peter Moffat, Chris Starmer, and Robert Sugden. Princeton University Press, 2010. Viii + 375 Pages. [REVIEW] Economics and Philosophy 27 (2):179-183.
  30. Nancy Cartwright (2010). Reply to Steel and Pearl Hunting Causes and Using Them: Approaches in Philosophy and Economics , Nancy Cartwright. Cambridge University Press, 2008, X + 270 Pages. [REVIEW] Economics and Philosophy 26 (1):87-94.
  31. Nevin Cavusoglu & Edinaldo Tebaldi (2006). Evaluating Growth Theories and Their Empirical Support: An Assessment of the Convergence Hypothesis. Journal of Economic Methodology 13 (1):49-75.
    Understanding the factors determining economic growth has been a major concern for economists and governing bodies for many years. The Solow growth model and the endogenous growth models are the main theories tested and used in the growth literature. This paper discusses the main contributions to economic methodology and uses Lakatos's scientific research program framework to evaluate the main theoretical contributions to growth theory. Based on Lakatos's ideas, Solovian models are both empirically and theoretically progressive. Endogenous growth models, on the (...)
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  32. Hsiang‐Ke Chao (2005). A Misconception of the Semantic Conception of Econometrics? Journal of Economic Methodology 12 (1):125-135.
    Davis argues that Suppe's semantic conception provides a better understanding of the problem of theory?data confrontations. Applying his semantic methodology to the LSE (London School of Economics) approach of econometrics, he concludes that the LSE approach fails to address the issue of bridging the theory?data gap. This paper suggests two other versions of the semantic view of theories in the philosophy of science, due to Suppes and van Fraassen, and argues that the LSE approach can be construed under these two (...)
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  33. David Colander (2010). The Economics Profession, the Financial Crisis, and Method. Journal of Economic Methodology 17 (4):419-427.
    In 2007?2008, the world economy came perilously close to a systemic failure in which a financial system collapse almost undermined the entire world economy as we know it. These events have led some to fault the economics profession for its failure to predict the crisis, and to ask whether the crisis will lead the economics profession to change its ways. In this paper, I will discuss these two issues, and then turn to some suggestions for institutional changes in the economics (...)
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  34. Steven Cook (2001). Observations on the Practice of Data-Mining: Comments on the JEM Symposium. Journal of Economic Methodology 8 (3):415-419.
    A positive view of data-mining has been recently presented in a Journal of Economic Methodology ( JEM ) symposium. This is in stark contrast to the stance normally taken. In this note consideration of the Bayesian philosophy of science literature and the impact of data revision extends the analysis of data-mining. Introduction of these issues is seen to provide support for the arguments presented in the JEM symposium.
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  35. Steven Cook (1999). Methodological Aspects of the Encompassing Principle. Journal of Economic Methodology 6 (1):61-78.
    The philosophy of science literature has played an increasing role in discussion of econometric methodology in recent years, and the Hendry methodology in particular has received much attention. Despite this, the encompassing principle has been overlooked in the methodological literature. This paper addresses this by examining the major methodological implications of the principle.
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  36. Arthur M. Diamond (2009). Fixing Ideas: How Research is Constrained by Mandated Formalism. Journal of Economic Methodology 16 (2):191-206.
    The puzzle: why do so many economists in principle acknowledge the importance of creative destruction, and yet in practice give so little attention to creative destruction in what they teach and what they research? The answer lies, in part, in the difficulty of obtaining what is viewed as ?hard? evidence in support of some of the central claims. For example, one such claim is that new products contribute more to consumer well-being than price competition on old products. The only kind (...)
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  37. Thomas J. Dohmen (2002). Building and Using Economic Models: A Case Study Analysis of the IS-LL Model. Journal of Economic Methodology 9 (2):191-212.
    This paper critically assesses several model accounts written in the 1990s by epistemologists and philosophers of science by relating them to a specific but crucial example of model building, namely Hicks's (1937) construction of the first version of the IS-LM model, and examining in how far these accounts apply to this case. Thereby the paper contributes to answering why and how economists build models. The view crystallizes that economists build models not only to facilitate the conceptual exploration of theory, but (...)
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  38. Till Düppe (2011). How Economic Methodology Became a Separate Science. Journal of Economic Methodology 18 (2):163-176.
    Ever since the formation of the field of economic methodology in the 1990s, doubts have been raised about its discursive closure from both inside and outside the field. Rather than embarking on a programmatic discussion, I present a historical narrative regarding the conditions of the formation of the field, which may have necessitated this closure. These conditions are found in the role methodological reflections played in the formalist revolution of the 1950s and in its critique in the 1970s. Both episodes (...)
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  39. Tom Engsted (2009). Statistical Vs. Economic Significance in Economics and Econometrics: Further Comments on McCloskey and Ziliak. Journal of Economic Methodology 16 (4):393-408.
    I comment on the controversy between McCloskey and Ziliak and Hoover and Siegler on statistical versus economic significance, in the March 2008 issue of the Journal of Economic Methodology. I argue that while McCloskey and Ziliak are right in emphasizing ?real error?, i.e. non-sampling error that cannot be eliminated through specification testing, they fail to acknowledge those areas in economics, e.g. rational expectations macroeconomics and asset pricing, where researchers clearly distinguish between statistical and economic significance and where statistical testing plays (...)
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  40. Clark Glymour (1985). Interpreting Leamer. Economics and Philosophy 1 (02):290-.
  41. Robert S. Goldfarb (1995). The Economist-as-Audience Needs a Methodology of Plausible Inference. Journal of Economic Methodology 2 (2):201-222.
    Economists often try to make plausible inferences from a sizable empirical literature addressing a particular measurement, direction-of-effect, or testing issue. There are serious methodological problems associated with drawing such inferences. This article sets out some of these problems in order to make a case for their importance. After discussing these problems, the paper presents three case study examples of inference difficulties in specific literatures. It then proposes a new hypothesis about the time pattern of publication bias in empirical economics literatures. (...)
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  42. Robert S. Goldfarb, Thomas C. Leonard & Steven M. Suranovic (2001). Are Rival Theories of Smoking Underdetermined? Journal of Economic Methodology 8 (2):229-251.
    Some empirically minded philosophers of science argue that the evidence should choose the best theory from among theoretical rivals. However, the evidence may not speak clearly, a problem of 'underdetermination of theory by data'. We examine this problem in a concrete setting, rival theories of smoking behaviour. We investigate whether several uncontested pieces of empirical evidence allow us to choose between two competing theoretical perspectives on smoking, rational choice and non-rational choice, respectively. Next, we develop a more refined taxonomy of (...)
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  43. Robert S. Goldfarb & Jonathan Ratner (2009). Exploring Different Visions of the Model–Empirics Nexus: Solow Versus Lipsey. Journal of Economic Methodology 16 (2):159-174.
    Does empirical work in economics both provoke and test theoretical models, or does model development proceed according to a theory-oriented research program, with little interaction with empirics? Robert Solow and Richard Lipsey have articulated different visions of this relationship. This paper: (i) describes these competing Solow versus Lipsey views; (ii) presents examples illustrating each view; and (iii) draws inferences about factors promoting a close relation between empirics and modeling. Three examples are examined in detail: the ?nursing shortage? literature; Lind's analysis (...)
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  44. Robert S. Goldfarb, H. O. Stekler & Joel David (2005). Methodological Issues in Forecasting: Insights From the Egregious Business Forecast Errors of Late 1930. Journal of Economic Methodology 12 (4):517-542.
    This paper examines some economic forecasts made in late 1930 that were intended to predict economic activity in the United States in order to shed light on several methodological issues. We document that these forecasts were extremely optimistic, predicting that the recession in the US would soon end, and that 1931 would show a recovery. These forecasts displayed egregious errors, because 1931 witnessed the largest negative growth rate for the US economy in any year in the twentieth century. A specific (...)
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  45. Wenceslao J. González (1996). On the Theoretical Basis of Prediction in Economics. Journal of Social Philosophy 27 (3):201-228.
  46. Clinton A. Greene (2000). I Am Not, nor Have I Ever Been a Member of a Data-Mining Discipline. Journal of Economic Methodology 7 (2):217-230.
    This paper argues classical statistics and standard econometrics are based on a desire to meet scientific standards for accumulating reliable knowledge. Science requires two inputs, mining of existing data for inspiration and new or 'out-of-sample' data for predictive testing. Avoidance of data-mining is neither possible nor desirable. In economics out-of-sample data is relatively scarce, so the production process should intensively exploit the existing data. But the two inputs should be thought of as complements rather than substitutes. And we neglect the (...)
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  47. William B. Griffith (1991). The Methodology of Economic Model Building: Methodology After Samuelson, Lawrence A. Boland. London: Routledge, 1989, V + 194 Pages. [REVIEW] Economics and Philosophy 7 (01):119-122.
  48. Francesco Guala (2011). Theory-Centrism in Experimental Economics. Journal of Economic Methodology 18 (01):83-86.
  49. Francesco Guala (2005). Economics in the Lab: Completeness Vs. Testability. Journal of Economic Methodology 12 (2):185-196.
    Two important arguments in the methodological literature on experimental economics rely on the specification of a domain for economic theory. The first one is used by some experimenters in their skirmishes with economic theorists, and moves from the assumption that theories have (or ought to have) their domain of application written in their assumptions. The other one is used to play down the relevance of certain unwelcome experimental results, and moves from the symmetric assumption that the domain of economic theory (...)
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  50. Francesco Guala (2004). Fact and Fiction in Economics: Models, Realism and Social Construction, Edited by Uskali MÄKI. Cambridge University Press, 2002, VII + 384 Pages. [REVIEW] Economics and Philosophy 20 (1):217-223.
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