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  1. Frank Ackerman (2002). Still Dead After All These Years: Interpreting the Failure of General Equilibrium Theory. Journal of Economic Methodology 9 (2):119-139.
    More than 25 years after the discovery that the equilibrium point of a general equilibrium model is not necessarily either unique or stable, there is still a need for an intuitively comprehensible explanation of the reasons for this discovery. Recent accounts identify two causes of the finding of instability: the inherent difficulties of aggregation, and the individualistic model of consumer behaviour. The mathematical dead end reached by general equilibrium analysis is not due to obscure or esoteric aspects of the model, (...)
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  2. J. Alcalde, M. C. Marco-Gil & J. A. Silva, The Minimal Overlap Rule: Restrictions on Mergers for Creditors' Consensus.
    As it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called µ-additivity. We find that µ-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by Neill (1982).
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  3. Elizabeth Anderson (2000). Beyond Homo Economicus: New Developments in Theories of Social Norms. Philosophy and Public Affairs 29 (2):170–200.
  4. Dominick T. Armentano (1992). Anti‐Antitrust: Ideology or Economics? Reply to Scherer. Critical Review 6 (1):29-39.
    F.M. Scherer has not effectively rebutted my subjectivist criticism of the standard microeconomic welfare model; Scherer's historical reference to what Congress (allegedly) believed is irrelevant to the theoretical concerns raised by subjectivism. Nor does my ?principal? criticism of antitrust policy rests on ?philosophical foundations?; my principal criticism rests on conventional economic analysis and a detailed economic history of the classic antitrust cases. My conclusion that the electrical equipment conspiracy of the late 1950s had no significant effect on market prices is (...)
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  5. N. Emrah Aydinonat (2007). Models, Conjectures and Exploration: An Analysis of Schelling's Checkerboard Model of Residential Segregation. Journal of Economic Methodology 14 (4):429-454.
    This paper analyses and explicates the explanatory characteristics of Schelling's checkerboard model of segregation. It argues that the explanation of emergence of segregation which is based on the checkerboard model is a partial potential (theoretical) explanation. Yet it is also argued that despite its partiality, the checkerboard model is valuable because it improves our chances to provide better explanations of particular exemplifications of residential segregation. The paper establishes this argument by way of examining the several ways in which the checkerboard (...)
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  6. Roger E. Backhouse (2004). History and Equilibrium: A Partial Defense of Equilibrium Economics. Journal of Economic Methodology 11 (3):291-305.
    This paper responds to the argument, made by many heterodox economists, that equilibrium theory should be abandoned in favor of theories that pay more attention to history. It considers some of the main ways in which the concept of equilibrium has been understood in economics, and the reasons why there has been confusion in discussions of equilibrium. The conclusion is drawn that the focus should be less on equilibrium as a concept than on equilibrium analysis as a method, and limited (...)
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  7. Roger E. Backhouse (1993). Lakatosian Perspectives on General Equilibrium Analysis. Economics and Philosophy 9 (02):271-.
  8. José Luis Bermúdez (2010). Rational Decisions , Ken Binmore. Princeton University Press, 2009, X + 200 Pages. [REVIEW] Economics and Philosophy 26 (1):95-101.
  9. James M. Buchanan (2001). Game Theory, Mathematics, and Economics. Journal of Economic Methodology 8 (1):27-32.
  10. Robin P. Cubitt, Chris Starmer & Robert Sugden (2001). Discovered Preferences and the Experimental Evidence of Violations of Expected Utility Theory. Journal of Economic Methodology 8 (3):385-414.
    The discovered preference hypothesis appears to insulate expected utility theory (EU) from disconfirming experimental evidence. It asserts that individuals have coherent underlying preferences, which experiments may not reveal unless subjects have adequate opportunities and incentives to discover which actions best satisfy their preferences. We identify the confounding effects to be expected in experiments, were that hypothesis true, and consider how they might be controlled for. We argue for a design in which each subject faces just one distinct choice task for (...)
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  11. Michel de Vroey (2003). Perfect Informationà laWalras Versus Perfect Informationà laMarshall. Journal of Economic Methodology 10 (4):465-492.
    In this paper I ponder upon the meaning of the perfect information assumption, and argue that a distinction should be drawn between the Walrasian and Marshallian conceptions of perfect information. I show that the Marshallian conception is more demanding than the Walrasian, due to the absence of the auctioneer figure. Next, I examine a few modern imperfect information models (Friedman's expectations?augmented Phillips Curve model, Lucas' neutrality of money model, Shapiro and Stiglitz' efficiency wage model) in order to assess whether the (...)
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  12. Brian Epstein (2009). Ontological Individualism Reconsidered. Synthese 166 (1):187-213.
    The thesis of methodological individualism in social science is commonly divided into two different claims—explanatory individualism and ontological individualism. Ontological individualism is the thesis that facts about individuals exhaustively determine social facts. Initially taken to be a claim about the identity of groups with sets of individuals or their properties, ontological individualism has more recently been understood as a global supervenience claim. While explanatory individualism has remained controversial, ontological individualism thus understood is almost universally accepted. In this paper I argue (...)
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  13. Brian Epstein (2008). When Local Models Fail. Philosophy of the Social Sciences 38 (1):3-24.
    Models treating the simple properties of social groups have a common shortcoming. Typically, they focus on the local properties of group members and the features of the world with which group members interact. I consider economic models of bureaucratic corruption, to show that (a) simple properties of groups are often constituted by the properties of the wider population, and (b) even sophisticated models are commonly inadequate to account for many simple social properties. Adequate models and social policies must treat certain (...)
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  14. Andrew Halpin (2007). Disproving the Coase Theorem? Economics and Philosophy 23 (3):321-341.
    This essay explores the detailed argument of the Coase Theorem, as found in Ronald Coase’s “The Problem of Social Cost” and subsequently defended by Coase in The Firm, the Market, and the Law. Fascination with the Coase Theorem arises over its apparently unassailable counterintuitive conclusion that the imposition of legal liability has no effect on which of two competing uses of land prevails, and also over the general difficulty in tying down an unqualified statement of the theorem. Instead of entering (...)
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  15. David L. Hammes & Lawrence A. Boland (1984). Neoclassical Vs. Classical Economic Models. Philosophy of the Social Sciences 14 (1):107-113.
  16. D. Wade Hands (1994). Restabilizing Dynamics: Construction and Constraint in the History of Walrasian Stability Theory. Economics and Philosophy 10 (02):243-.
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  17. D. Wade Hands (1985). The Structuralist View of Economic Theories: A Review Essay: The Case of General Equilibrium in Particular. Economics and Philosophy 1 (2):303-.
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  18. Neil Hart (1996). Equilibrium and Time: Marshall's Dilemma. Journal of Economic Methodology 3 (2):285-306.
    The neglect and misinterpretation of Marshall's treatment of time led many of his followers and critics to overlook the significance of the qualifications and criticisms of equilibrium analysis in his Principles. This misinterpretation arises from a failure to fully understand the purpose and method of Marshall's analysis. Marshall's methodological struggles in Principles did not arise from an attempt to preserve the concept of competitive equilibrium in a world where increasing returns are pervasive. Rather, they emanated from an attempt at providing (...)
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  19. Geoffrey M. Hodgson (2006). Microeconomics: Behavior, Institutions, and Evolution, Samuel Bowles, Princeton University Press and Russell Sage Foundation, 2004, 584 Pages. [REVIEW] Economics and Philosophy 22 (1):166-171.
  20. Karsten Klint Jensen (2012). Unacceptable Risks and the Continuity Axiom. Economics and Philosophy 28 (1):31-42.
    Consider a sequence of outcomes of descending value, A > B > C > . . . > Z. According to Larry Temkin, there are reasons to deny the continuity axiom in certain cases, i.e. cases of triplets of outcomes A, B and Z, where A and B differ little in value, but B and Z differ greatly. But, Temkin argues, if we assume continuity for cases, i.e. cases where the loss is small, we can derive continuity for the case (...)
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  21. Elias L. Khalil (2008). Equilibrium Without Rationality:Microeconomics: Behavior, Institutions and Evolution, Samuel Bowles . Princeton: Princeton University Press, 2003. (595 Pp; US $29.95 Pbk; ISBN 9780691126388. [REVIEW] Biological Theory 3 (1):90-92.
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  22. Maurice Lagueux, Omniscience and Rationality in Microeconomics.
    It would be very difficult to discuss the question concerning the hypothesis of omniscience in microeconomics without relating this hypothesis to the more fundamental hypothesis of rationality (usually referred to as rationality principle or postulate) which is at the base of the very idea of an economic theory and even social sciences. Indeed omniscience is a quality which was typically attributed to homo oeconomicus whose essential characteristic is to be perfectly "rational". This association between omniscience and rationality goes back to (...)
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  23. Christian List & Ben Polak (2010). Introduction to Judgment Aggregation. Journal of Economic Theory 145 (2):441-466.
    This introduces the symposium on judgment aggregation. The theory of judgment aggregation asks how several individuals' judgments on some logically connected propositions can be aggregated into consistent collective judgments. The aim of this introduction is to show how ideas from the familiar theory of preference aggregation can be extended to this more general case. We first translate a proof of Arrow's impossibility theorem into the new setting, so as to motivate some of the central concepts and conditions leading to analogous (...)
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  24. Michael Moehler & Geoffrey Brennan (2010). Neoclassical Economics. In Mark Bevir (ed.), Encyclopedia of Political Theory. SAGE Publications.
    The term neoclassical economics delineates a distinct and relatively homogenous school of thought in economic theory that became prominent in the late nineteenth century and that now dominates mainstream economics. The term was originally introduced by Thorstein Veblen to describe developments in the discipline (of which Veblen did not entirely approve) associated with the work of such figures as William Jevons, Carl Menger, and Leon Walras. The ambition of these figures, the first neoclassicists, was to formalize and mathematize the subject (...)
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  25. Philippe Mongin (2000). Does Optimization Imply Rationality? Synthese 124 (1-2):73 - 111.
    The relations between rationality and optimization have been widely discussed in the wake of Herbert Simon's work, with the common conclusion that the rationality concept does not imply the optimization principle. The paper is partly concerned with adding evidence for this view, but its main, more challenging objective is to question the converse implication from optimization to rationality, which is accepted even by bounded rationality theorists. We discuss three topics in succession: (1) rationally defensible cyclical choices, (2) the revealed preference (...)
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  26. Alan Nelson (1984). Some Issues Surrounding the Reduction of Macroeconomics to Microeconomics. Philosophy of Science 51 (4):573-594.
    This paper examines the relationship between modern theories of microeconomics and macroeconomics and, more generally, it evaluates the prospects of theoretically reducing macroeconomics to microeconomics. Many economists have shown strong interest in providing "microfoundations" for macroeconomics and much of their work is germane to the issue of theoretical reduction. Especially relevant is the work that has been done on what is called The Problem of Aggregation. On some accounts, The Problem of Aggregation just is the problem of reducing macroeconomics to (...)
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  27. Julianne Nelson (1992). The Market Ethic: Moral Dilemmas and Microeconomics. [REVIEW] Journal of Business Ethics 11 (4):317 - 320.
    Brief cases written as multiple choice questions can provide the basis for a classroom game based on business ethics. This teaching note describes the organization of such a game and provides five sample cases.
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  28. Alejandro Rosas (2010). Reciprocity, Altruism and the Civil Society: In Praise of Heterogeneity , Luigino Bruni. Routledge, 2008, XIII + 158 Pages. [REVIEW] Economics and Philosophy 26 (1):108-114.
    Economic theory has tended to reduce all social bonds and relations to forms of contract, whereas social theory has seen contracts as opposed to, and destructive of, genuine social bonds. Bruni sees these contrapositions as ideological (‘left’ against ‘right’, p. xi). His main goal is to overcome them; to show that three forms of reciprocity, covering the ideological spectrum from left to right, are complementary and simultaneously required in a healthy society. These three forms are, in his words: ‘(1) the (...)
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  29. Alex Rosenberg (1995). The Metaphysics of Microeconomics. The Monist 78 (3):352-367.
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  30. Don Ross (1995). Real Patterns and the Ontological Foundations of Microeconomics. Economics and Philosophy 11 (01):113-.
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