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  1.  11
    (1 other version)Economic models as argumentative devices.N. Emrah Aydinonat - 2024 - Journal of Economic Methodology 31 (4):265-286.
    This article critically evaluates Itzhak Gilboa, Andrew Postlewaite, Larry Samuelson, and David Schmeidler’s account of economic models. First, it gives a selective overview of their argument, highlighting their emphasis on similarity and oversight of the role of idealizations in economics. Second, it proposes a sketch of an account of models as arguments and argumentative devices. This account not only sheds light on Gilboa et al.’s approach, including its shortcomings, but also identifies key challenges in model-based inference, suggesting a fresh perspective (...)
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  2.  12
    Authors' reply to comments.Itzhak Gilboa, Andrew Postlewaite & Larry Samuelson - 2024 - Journal of Economic Methodology 31 (4):302-305.
  3.  71
    Explanation, prediction, and conceptual exploration.Daniel Hausman - 2024 - Journal of Economic Methodology 31 (4):232-240.
    This essay aims to provide a rigorous foundation for Gilboa's, Postlewaite's, Samuelson's and Schmeidler's (GPSS's) account of the constitution of models and the role of models in explanation and prediction. Although I shall offer some criticisms, my goal is to sketch analyses of explanations and models that complement GPSS's distinctions between the uses of models to explain, prescribe, predict, and explore the consequences of theories.
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  4.  12
    Economic methodology to preserve the past? Some reflections on economic theories and their dueling interpretations.Catherine Herfeld - 2024 - Journal of Economic Methodology 31 (4):249-264.
    Methodological appraisal usually aims at a discourse that contributes to the improvement of knowledge production processes in economics. Attempts by economists, such as that by Gilboa et al. (2022. Economic theories and their dueling interpretations. Journal of Economic Methodology, 1–20) to engage in such a discourse are laudable and needed because they draw on field-specific expertise and experience from economic practice and thereby can steer such discourse into promising directions. However, while Gilboa et al. seem to share the ambition of (...)
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  5. Insider apology for microeconomic theorising?Maarten Janssen, Tarja Knuuttila & Mary S. Morgan - 2024 - Journal of Economic Methodology 31 (4):220-231.
    This comment on 'Economic theories and their Dueling interpretations' questions the descriptive adequacy of the ‘sociology of economics' proposed by Gilboa, Postlewaite, Samuelson, and Schmeidler (GPSS) (2022). We ask whether economists still perceive the role of microeconomic theory as central as do GPSS. In particular, is present-day economics unified by the principles of maximising, subject to constraints and equilibrium analysis? We argue that this is not the case. GPSS’ appeal to the interpretative flexibility of economic theories appears apologetic, especially the (...)
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  6.  70
    Economic models and their flexible interpretations: a philosophy of science perspective.Jaakko Kuorikoski & Caterina Marchionni - 2024 - Journal of Economic Methodology 31 (4):241-248.
    We mobilise contemporary philosophy of science to further clarify observations on economic modelling made by Gilboa et al. (2023). We adopt a normative stance towards these modelling practices to identify the extent to which they are epistemically justified. Our message is simple: many of the distinctions proposed by Gilboa et al. (2023) are useful, but without the proper qualifications, too much flexibility in choosing the right interpretation risks downplaying the crucial role that empirical evidence should play in any modelling endeavour.
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  7.  9
    On the contents and agents of commentary in modelling.Uskali Mäki - 2024 - Journal of Economic Methodology 31 (4):287-301.
    Economics is a societally influential discipline, but the relationship of its theoretical activity to social reality and practical policy is chronically puzzling. Its theoretical models appear to involve a lot of falsehood, and modellers seem unconcerned about this and about any possible future uses of the models, while sticking to the same unifying theoretical framework. Gilboa et al. (2014, 2022) aspire to resolve the puzzle in terms of varying interpretations of models. I offer critical comments on their ideas while expanding (...)
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  8.  9
    Introduction to the special issue: economic theories and their dueling interpretations.Jack Vromen & N. Emrah Aydinonat - 2024 - Journal of Economic Methodology 31 (4):187-188.
  9.  16
    Beyond uncertainty: reasoning with unknown possibilities (Elements in Decision Theory and Philosophy). E. Piermont - 2024 - Journal of Economic Methodology 31 (3):177-181.
    Volume 31, Issue 3, September 2024, Page 177-181.
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  10.  46
    Spectres of Mises: controversial methodological claims reassessed.Diogo Lourenço & Mário Graça Moura - 2024 - Journal of Economic Methodology 31 (3):145-160.
    In this article, we reassess two of Mises’ core methodological claims. The first claim is that action is necessarily rational. The second claim is that all human minds share a logical structure. Neither claim can be unreservedly accepted but, we argue, both contain truth: Mises’ reflections remain important contributions to our understanding of action and the mind, hence to economics.
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  11.  19
    Normative empirical concepts – a practical guiding tool for economists.Irene van Staveren - 2024 - Journal of Economic Methodology 31 (3):161-176.
    Economists use a variety of normative empirical concepts because the economy and morality are intertwined. Often, this normativity is intended and widely acknowledged, signaling the relevance and meaning of research. Sometimes, the objectivity of research and the findings obtained by using normative concepts is problematic. Written from the perspective of a practicing economist, the article offers a practical guiding tool to economists, suggesting how to be responsible in developing and using normative empirical concepts. It is based on valuable insights from (...)
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  12.  44
    Economics from a biological perspective: the role of sociocultural homeostasis.Marco Verweij & Antonio Damasio - 2024 - Journal of Economic Methodology 31 (3):127-144.
    Economics and biology have long been overlapping and mutually enriching fields. We contribute to this cross-fertilization by spelling out the implications for economic theory of some recent insights from evolutionary neurobiology. We note that dynamic homeostasis, a core feature of life processes, has shaped social interactions at varied stages of evolution – from the patterns of competition and cooperation among early life forms to the complex process of human cultures. The resulting homeostatic perspective is not compatible with several leading economic (...)
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  13.  29
    Kirzner's argument for the relevance and uniqueness of Austrian economics relating to neoclassical theory: the tendency to equilibrium and the Jevons’ law of indifference.Lucas Casonato & Eduardo Angeli - 2024 - Journal of Economic Methodology 31 (2):91-105.
    This paper examines Kirzner's contribution to the study of the equilibrating tendency in economics. By analyzing his interpretation of Jevons’ law of indifference, we participate in the debate on Kirzner association with neoclassicals when discussing the equilibrating tendency. A reconstruction of Kirzner’s use of Jevons’ law is conducted, considering his argumentative strategy when presenting the Austrian economics ideas to other professionals in the field. We conclude that Kirzner drew close to neoclassical economics to emphasize the relevance and uniqueness of Austrian (...)
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  14.  36
    Paternalism for rational agents.Kevin Leportier - 2024 - Journal of Economic Methodology 31 (2):78-90.
    In the context of strategic interactions, individuals sometimes find themselves better off when they have fewer options. This mechanism is known under the name of ‘strategic commitment’, as it is usually the individuals themselves who ‘commit’ to following a certain course of action by restricting their options; but that is not necessary. I explain how a paternalistic intervention may be conceived where it is a third party who paternalistically restricts rational individuals’ choices to improve their welfare. This kind of intervention, (...)
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  15.  42
    Pluralism in economics and the question of ontological pluralism.Imko Meyenburg - 2024 - Journal of Economic Methodology 31 (2):106-119.
    Within the heterodox economic literature on pluralism, attention has predominately focussed on epistemic and methodological levels. The response to the question of what ontological pluralism could mean, and its contribution to the debate, remains limited. This paper argues for greater attention to be given to ontological pluralism, not only because it enriches the existing discussions around pluralism in the heterodox literature but it also provides support for a plurality of epistemological standards and methodological approaches. The paper proposes an alternative definition (...)
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  16.  32
    Experimental approach to development economics: a review of issues and options. [REVIEW]C. S. C. Sekhar & Namrata Thapa - 2024 - Journal of Economic Methodology 31 (2):63-77.
    Randomized control trials (RCTs) are recognized as the preferred tool of analysis in modern development economics literature/research and policy evaluation. This may lead to methodologies, including case studies, tabular analysis, simple regressions, taking a back seat. This survey explores the implications of such a methodological hierarchy and the implications of preoccupation with a particular evidence/methodology for research and policy. Similar developments in macroeconomic modelling are also discussed. Major advantages and limitations of RCTs and the attempts to address them are highlighted. (...)
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  17.  29
    Equilibrium modeling in economics: a design-based defense.Armin W. Schulz - 2024 - Journal of Economic Methodology 31 (1):36-53.
    Several authors have recently argued that the excessive focus on equilibrium models in mainstream economic analysis prevents economists from providing accurate representations of the complex and dynamic nature of real economic systems. In response, this paper argues the following. Many economic systems are the products of deliberate and centralized human design. People can and do build and support structures, such as social institutions, aiming to enhance the predictability of economic systems, and thus to move them toward being equilibrium systems. This (...)
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  18.  15
    Rethinking public choice by Richard E. Wagner, Cheltenham, UK and Northampton, MA, Edward Elgar Publishing, 2022, 192 pp., £78, ISBN 9781802204735. [REVIEW]Erica Yu - 2024 - Journal of Economic Methodology.
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