Economic Modelling as Robustness Analysis

Abstract
We claim that the process of theoretical model refinement in economics is best characterised as robustness analysis: the systematic examination of the robustness of modelling results with respect to particular modelling assumptions. We argue that this practise has epistemic value by extending William Wimsatt's account of robustness analysis as triangulation via independent means of determination. For economists robustness analysis is a crucial methodological strategy because their models are often based on idealisations and abstractions, and it is usually difficult to tell which idealisations are truly harmful
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DOI 10.1093/bjps/axp049
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References found in this work BETA
Michael Weisberg (2006). Robustness Analysis. Philosophy of Science 73 (5):730-742.
Ernan McMullin (1985). Galilean Idealization. Studies in History and Philosophy of Science Part A 16 (3):247-273.
Jim Woodward (2006). Some Varieties of Robustness. Journal of Economic Methodology 13 (2):219-240.

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Citations of this work BETA
Julian Reiss (2012). The Explanation Paradox. Journal of Economic Methodology 19 (1):43-62.

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