Journal of Economic Methodology 7 (1):1-31 (2000)
|Abstract||Using as examples Akerlof's 'market for ''lemons''' and Schelling's 'checkerboard' model of racial segregation, this paper asks how economists' abstract theoretical models can explain features of the real world. It argues that such models are not abstractions from, or simplifications of, the real world. They describe counterfactual worlds which the modeller has constructed. The gap between model world and real world can be filled only by inductive inference, and we can have more confidence in such inferences, the more credible the model is as an account of what could have been true.|
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
Robert Sugden (2009). Credible Worlds, Capacities and Mechanisms. Erkenntnis 70 (1):3 - 27.
Uskali Mäki (2009). MISSing the World. Models as Isolations and Credible Surrogate Systems. Erkenntnis 70 (1):29 - 43.
Robert Sugden (2011). Explanations in Search of Observations. Biology and Philosophy 26 (5):717-736.
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.
Till Grüne-Yanoff (2009). Learning From Minimal Economic Models. Erkenntnis 70 (1):81 - 99.
Jaakko Kuorikoski & Aki Lehtinen (2009). Incredible Worlds, Credible Results. Erkenntnis 70 (1):119 - 131.
Nancy Cartwright (2009). If No Capacities Then No Credible Worlds. But Can Models Reveal Capacities? Erkenntnis 70 (1):45 - 58.
Ulrich Krohs (2008). How Digital Computer Simulations Explain Real-World Processes. International Studies in the Philosophy of Science 22 (3):277 – 292.
Denis Phan & Franck Varenne (2010). Agent-Based Models and Simulations in Economics and Social Sciences: From Conceptual Exploration to Distinct Ways of Experimenting. Journal of Artificial Societies and Social Simulation 13 (1).
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.
Cyril Hédoin (2012). Models in Economics Are Not (Always) Nomological Machines: A Pragmatic Approach to Economists' Modeling Practices. Philosophy of the Social Sciences:0048393112458715.
Added to index2012-02-20
Total downloads7 ( #142,281 of 722,813 )
Recent downloads (6 months)1 ( #60,541 of 722,813 )
How can I increase my downloads?