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  1. Perpetual Anarchy : From Economic Security to Financial Insecurity.S. M. Amadae - 2017 - Finance and Society 2 (3):188-96.
    This forum contribution addresses two major themes in de Goede’s original essay on ‘Financial security’: (1) the relationship between stable markets and the proverbial ‘security dilemma’; and (2) the development of new decision-technologies to address risk in the post-World War II period. Its argument is that the confluence of these two themes through rational choice theory represents a fundamental re-evaluation of the security dilemma and its relationship to the rule of law governing market relations, ushering in an era of perpetual (...)
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  • Dialectical Libertarianism: The Unintended Consequences of Both Ethics and Incentives Underlie Mutual Prosperity.S. M. Amadae - 2016 - Erasmus Journal for Philosophy and Economics 9 (2):37.
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  • Models in Economics Are Not (Always) Nomological Machines.Cyril Hédoin - 2014 - Philosophy of the Social Sciences 44 (4):424-459.
    This paper evaluates Nancy Cartwright’s critique of economic models. Cartwright argues that economics fails to build relevant “nomological machines” able to isolate capacities. In this paper, I contend that many economic models are not used as nomological machines. I give some evidence for this claim and build on an inferential and pragmatic approach to economic modeling. Modeling in economics responds to peculiar inferential norms where a “good” model is essentially a model that enhances our knowledge about possible worlds. As a (...)
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  • Agent-Based Simulation and Sociological Understanding.Petri Ylikoski - 2014 - Perspectives on Science 22 (3):318-335.
    This article discusses agent-based simulation (ABS) as a tool of sociological understanding. I argue that agent-based simulations can play an important role in the expansion of explanatory understanding in the social sciences. The argument is based on an inferential account of understanding (Ylikoski 2009, Ylikoski & Kuorikoski 2010), according to which computer simulations increase our explanatory understanding by expanding our ability to make what-if inferences about social processes and by making these inferences more reliable. The inferential account also suggests a (...)
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  • Social Ontology.Brian Epstein - 2018 - Stanford Encyclopedia of Philosophy.
    Social ontology is the study of the nature and properties of the social world. It is concerned with analyzing the various entities in the world that arise from social interaction. -/- A prominent topic in social ontology is the analysis of social groups. Do social groups exist at all? If so, what sorts of entities are they, and how are they created? Is a social group distinct from the collection of people who are its members, and if so, how is (...)
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  • The Crisis of European Social Sciences: The Case of Money.Joan González Guardiola - 2014 - Investigaciones Fenomenológicas 4:197.
    Our aim in this article is to put into practice, in the field of social sciences, the principles that Husserl displayed in his book from 1936, "The crisis of European sciences and transcendental phenomenology”. In that seminal work, Husserl reflected on the mathematization of nature and produced an historical meditation on the essence of geometry. Here we will try to extend the reach of Husserlian postulates in order to deal with economics and, more specifically, with the theory of money. We (...)
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  • Mark Blaug's Unrealistic Crusade for Realistic Economics.Uskali Mäki - 2013 - Erasmus Journal for Philosophy and Economics 6 (3):87-103.
    Mark Blaug’s normative methodology of economics is an attempt to articulate certain intuitions about how economic science could be improved by making it more “realistic”. I discuss two such articulations, one in terms of falsificationist principles, the other in terms of an alleged trade-off between relevance and mathematical rigour. My conclusion is that Blaug’s methodology is itself unrealistic, both descriptively and normatively. His (well intended) methodological prescriptions for the improvement of economics are not based on a systematic, consistent, descriptively adequate, (...)
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  • Shahzavar Karimzadi's Money and its Origins. London: Routledge, 2012, 268 Pp. [REVIEW]Georgios Papadopoulos - 2013 - Erasmus Journal for Philosophy and Economics 6 (2):97.
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  • N. Emrah Aydinonat's The Invisible Hand in Economics: How Economists Explain Unintended Social Consequences. London/New York: Routledge, 2008, 272 Pp. [REVIEW]Mark Blaug - 2009 - Erasmus Journal for Philosophy and Economics 2 (1):123.
  • Dani Rodrik's Economics Rules: The Rights and Wrongs of the Dismal Science. New York: W. W. Norton & Company, 2015, 272 Pp. [REVIEW]N. Emrah Aydinonat - 2015 - Erasmus Journal for Philosophy and Economics 8 (2):94.
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  • The Usefulness of Truth: An Enquiry Concerning Economic Modelling.Simon Deichsel - 2010 - Erasmus Journal for Philosophy and Economics 3 (1):119-122.
    This thesis attempts to justify a normative role for methodology by sketching a pragmatic way out of the dichotomy between two major strands in economic methodology: empiricism and postmodernism. I discuss several methodological approaches and assess their aptness for theory appraisal in economics. I begin with the most common views on methodology and argue why they are each ill-suited for giving methodological prescriptions to economics. Then, I consider positions that avoid the errors of empiricism and postmodernism. I specifically examine why (...)
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  • The Ontology of Money: Institutions, Power and Collective Intentionality.Georgios Papadopoulos - 2015 - Erasmus Journal for Philosophy and Economics 8 (1):136.
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  • Searle and Menger on Money.Emma Tieffenbach - 2010 - Philosophy of the Social Sciences 40 (2):191-212.
    In Searle’s social ontology, collective intentionality is an essential component of all institutional facts. This is because the latter involve the assignment of functions, namely "status functions," on entities whose physical features do not guarantee their performance, therefore requiring our acceptance that it be performed. One counter-example to that claim can be found in Carl Menger’s individualistic account of the money system. Menger’s commitment to the self-interest assumption, however, prevents him from accounting for the deontic dimensions of institutional facts.
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  • The Diversity of Models as a Means to Better Explanations in Economics.Emrah Aydinonat - forthcoming - Journal of Economic Methodology 25 (3):237-251.
    In Economics Rules, Dani Rodrik (2015) argues that what makes economics powerful despite the limitations of each and every model is its diversity of models. Rodrik suggests that the diversity of models in economics improves its explanatory capacities, but he does not fully explain how. I offer a clearer picture of how models relate to explanations of particular economic facts or events, and suggest that the diversity of models is a means to better economic explanations.
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  • Model Pluralism.Walter Veit - 2019 - Philosophy of the Social Sciences 50 (2):91-114.
    This paper introduces and defends an account of model-based science that I dub model pluralism. I argue that despite a growing awareness in the philosophy of science literature of the multiplicity, diversity, and richness of models and modeling practices, more radical conclusions follow from this recognition than have previously been inferred. Going against the tendency within the literature to generalize from single models, I explicate and defend the following two core theses: any successful analysis of models must target sets of (...)
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  • Puzzled by Idealizations and Understanding Their Functions.Uskali Mäki - 2020 - Philosophy of the Social Sciences 50 (3):215-237.
    Idealization is ubiquitous in human cognition, and so is the inclination to be puzzled by it: what to make of ideal gas, infinitely large populations, homo economicus, perfectly just society, known to violate matters of fact? This is apparent in social science theorizing, recent philosophy of science analyzing scientific modeling, and the debate over ideal and non-ideal theory in political philosophy. I will offer a set of concepts and principles to improve transparency about the precise contents of idealizations and their (...)
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  • The Efficiency Question in Economics.Northcott Robert - 2018 - Philosophy of Science 85 (5):1140-1151.
    Much philosophical attention has been devoted to whether economic models explain, and more generally to how scientific models represent. Yet there is an issue more practically important to economics than either of these, which I label the efficiency question: regardless of how exactly models represent, or of whether their role is explanatory or something else, is current modeling practice an efficient way to achieve these goals – or should research efforts be redirected? In addition to showing how the efficiency question (...)
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  • What is the Problem with Model-Based Explanation in Economics?Caterina Marchionni - 2017 - Disputatio 9 (47):603-630.
    The question of whether the idealized models of theoretical economics are explanatory has been the subject of intense philosophical debate. It is sometimes presupposed that either a model provides the actual explanation or it does not provide an explanation at all. Yet, two sets of issues are relevant to the evaluation of model-based explanation: what conditions should a model satisfy in order to count as explanatory and does the model satisfy those conditions. My aim in this paper is to unpack (...)
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  • Buyer Beware: Robustness Analyses in Economics and Biology.Jay Odenbaugh & Anna Alexandrova - 2011 - Biology and Philosophy 26 (5):757-771.
    Theoretical biology and economics are remarkably similar in their reliance on mathematical models, which attempt to represent real world systems using many idealized assumptions. They are also similar in placing a great emphasis on derivational robustness of modeling results. Recently philosophers of biology and economics have argued that robustness analysis can be a method for confirmation of claims about causal mechanisms, despite the significant reliance of these models on patently false assumptions. We argue that the power of robustness analysis has (...)
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  • Understanding with Theoretical Models.Petri Ylikoski & N. Emrah Aydinonat - 2014 - Journal of Economic Methodology 21 (1):19-36.
    This paper discusses the epistemic import of highly abstract and simplified theoretical models using Thomas Schelling’s checkerboard model as an example. We argue that the epistemic contribution of theoretical models can be better understood in the context of a cluster of models relevant to the explanatory task at hand. The central claim of the paper is that theoretical models make better sense in the context of a menu of possible explanations. In order to justify this claim, we introduce a distinction (...)
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  • I modelli in economia.Alessandra Basso & Caterina Marchionni - 2015 - Aphex 11.
    The paper reviews the philosophical literature on the epistemology of modelling in contemporary economics. In particular, it focuses on open questions concerning the epistemic role of models, the validity of inferences from the models to the world, and the legitimacy of their use for purposes of explanation, prediction and intervention.
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  • MISSing the World: Models as Isolations, Representations, and Credible Worlds.Uskali Mäki - 2009 - Erkenntnis 70 (1):29-43.
    This article shows how the MISS account of models—as isolations and surrogate systems—accommodates and elaborates Sugden’s account of models as credible worlds and Hausman’s account of models as explorations. Theoretical models typically isolate by means of idealization, and they are representatives of some target system, which prompts issues of resemblance between the two to arise. Models as representations are constrained both ontologically (by their targets) and pragmatically (by the purposes and audiences of the modeller), and these relations are coordinated by (...)
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  • MISSing the World. Models as Isolations and Credible Surrogate Systems.Uskali Mäki - 2009 - Erkenntnis 70 (1):29-43.
    This article shows how the MISS account of models—as isolations and surrogate systems—accommodates and elaborates Sugden’s account of models as credible worlds and Hausman’s account of models as explorations. Theoretical models typically isolate by means of idealization, and they are representatives of some target system, which prompts issues of resemblance between the two to arise. Models as representations are constrained both ontologically (by their targets) and pragmatically (by the purposes and audiences of the modeller), and these relations are coordinated by (...)
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  • Incredible Worlds, Credible Results.Jaakko Kuorikoski & Aki Lehtinen - 2009 - Erkenntnis 70 (1):119-131.
    Robert Sugden argues that robustness analysis cannot play an epistemic role in grounding model-world relationships because the procedure is only a matter of comparing models with each other. We posit that this argument is based on a view of models as being surrogate systems in too literal a sense. In contrast, the epistemic importance of robustness analysis is easy to explicate if modelling is viewed as extended cognition, as inference from assumptions to conclusions. Robustness analysis is about assessing the reliability (...)
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  • Accounting for Constitutive Rules in Game Theory.Cyril Hédoin - 2015 - Journal of Economic Methodology 22 (4):439-461.
    Game theory and rules are deeply intertwined for at least two reasons: first, in many cases rules are necessary to break the indeterminacy that surrounds most of the games; second, in the past 30 years game theory has been increasingly used as a major tool to build a theory of social rules. Interestingly, though the concept of rules is now part of most game theorists' tool box, none of them has explicitly entertained the important distinction between regulative rules and constitutive (...)
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  • Models, Conjectures and Exploration: An Analysis of Schelling's Checkerboard Model of Residential Segregation.N. Emrah Aydinonat - 2007 - 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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