Year:

  1.  8
    Philosophy of Economics Rules: Introduction to the Symposium.N. Emrah Aydinonat - 2018 - Journal of Economic Methodology 25 (3):211-217.
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography  
  2.  4
    The Diversity of Models as a Means to Better Explanations in Economics.N. Emrah Aydinonat - 2018 - Journal of Economic Methodology 25 (3):237-251.
    ABSTRACTIn Economics Rules, Rodrik [. Economics rules: Why economics works, when it fails, and how to tell the difference. Oxford: Oxford University Press] 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 (...)
    Direct download (3 more)  
     
    Export citation  
     
    My bibliography   1 citation  
  3.  2
    Modeling Model Selection in Model Pluralism.Till Grüne-Yanoff & Caterina Marchionni - 2018 - Journal of Economic Methodology 25 (3):265-275.
    ABSTRACTIn his recent book, Rodrik [. Economics rules. Why economics works, when it fails, and how to tell the difference. Oxford University Press] proposes an account of model pluralism according to which multiple models of the same target are acceptable as long as one model is more useful for one purpose and another is more useful for another purpose. How, then, is the right model for the purpose selected? Rodrik roughly outlines a selection procedure, which we formalize to enhance understanding (...)
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography   1 citation  
  4.  1
    Model Selection in Macroeconomics: DSGE and Ad Hocness.Jaakko Kuorikoski & Aki Lehtinen - 2018 - Journal of Economic Methodology 25 (3):252-264.
    ABSTRACTWe investigate the applicability of Rodrik’s accounts of model selection and horizontal progress to macroeconomic DSGE modelling in both academic and policy-oriented modelling contexts. We argue that the key step of identifying critical assumptions is complicated by the interconnectedness of the common structural core of DSGE models and by the ad hoc modifications introduced to model various rigidities and other market imperfections. We then outline alternative ways in which macroeconomic modelling could become more horizontally progressive.
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography  
  5.  9
    Rights and Wrongs of Economic Modelling: Refining Rodrik.Uskali Mäki - 2018 - Journal of Economic Methodology 25 (3):218-236.
    ABSTRACTThis is a critical discussion and proposed refinement of the inspiring account of the successes and failures of economic modelling sketched in Dani Rodrik’s Economics Rules. The refinements make use of a systematic framework of the structure of scientific modelling. The issues include distinguishing the discipline of economics from the behaviour and attitudes of economists as targets of normative assessment; nature and sources of success and failure in modelling; the key role of model commentary; model transparency; purposes and audiences of (...)
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography  
  6.  5
    Second Thoughts on Economics Rules.Dani Rodrik - 2018 - Journal of Economic Methodology 25 (3):276-281.
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography  
  7.  6
    Samuelson’s Operationally Meaningful Theorems: Reflections of E. B. Wilson’s Methodological Attitude.Juan Carvajalino - 2018 - Journal of Economic Methodology 25 (2):143-159.
    This paper sheds new light on Samuelson’s early methodology as presented in his Foundations of Economic Analysis by reflecting on the similarity between his mathematical economics and Edwin B. Wilson’s mathematics. Wilson was Samuelson’s professor of advanced mathematical and statistical economics; he was also a protégé of Josiah Willard Gibbs. Wilson defined mathematics as a language that consisted of three interconnected aspects: postulational, axiomatic, and operational. In his Foundations, in a Wilsonian style, Samuelson wrote in the opening page, ‘Mathematics is (...)
    Direct download (5 more)  
     
    Export citation  
     
    My bibliography  
  8.  5
    Back to Buchanan? Explorations of Welfare and Subjectivism in Behavioral Economics.Malte F. Dold - 2018 - Journal of Economic Methodology 25 (2):160-178.
    In light of behavioral findings regarding inconsistent individual decision-making, economists have begun to re-conceptualize the notion of welfare. One prominent account is the preference purification approach, which attempts to reconstruct preferences from choice data based on a normative understanding of neoclassical rationality. Using Buchanan’s notion of creative choice, this paper criticizes PP’s epistemic, ontological, and psychological assumptions. It identifies PP as a static position that assumes the satisfaction of given ‘true preferences’ as the normative standard for welfare. However, following Buchanan, (...)
    Direct download (5 more)  
     
    Export citation  
     
    My bibliography  
  9.  10
    Explaining Patterns, Not Details: Reevaluating Rational Choice Models in Light of Their Explananda.Catherine Herfeld - 2018 - Journal of Economic Methodology 25 (2):179-209.
    It has been argued persistently that economic models frequently suffer from poor empirical performance because they rely upon empirically inadequate behavioral foundations, i.e. theories of rational choice. In this paper, I argue that much of this criticism misses the point: it assumes that economics is about explaining human behavior when in fact, since Adam Smith, economists have been more interested in explaining patterns that emerge from social interaction. While some minimal account of human behavior is needed for explaining such phenomena, (...)
    Direct download (3 more)  
     
    Export citation  
     
    My bibliography  
  10.  2
    Was the Deflation of the Depression Anticipated? An Inference Using Real-Time Data.Gabriel Mathy & Herman Stekler - 2018 - Journal of Economic Methodology 25 (2):117-125.
    Theories that explain the behavior of the economy during the Depression are based on assumptions about agents’ expectations about future price trends. This paper uses an alternative methodological approach which utilizes real-time information from the Depression period to infer whether deflation was anticipated. The information includes the forecasting methodology of that time as well as projections about anticipated output that were obtained from the textual analysis of business statements, converting qualitative to quantitative data. We infer that deflation was not anticipated (...)
    Direct download (6 more)  
     
    Export citation  
     
    My bibliography  
  11.  2
    Can Welfare Be Measured with a Preference-Satisfaction Index?Willem van der Deijl - 2018 - Journal of Economic Methodology 25 (2):126-142.
    Welfare in economics is generally conceived of in terms of the satisfaction of preferences, but a general, comparable index measure of welfare is generally not taken to be possible. In recent years, in response to the usage of measures of subjective well-being as indices of welfare in economics, a number of economists have started to develop measures of welfare based on preference-satisfaction. In order to evaluate the success of such measures, I formulate criteria of policy-relevance and theoretical success in the (...)
    Direct download (6 more)  
     
    Export citation  
     
    My bibliography  
  12.  8
    Historical Models and Economic Syllogisms.Luiz Carlos Bresser-Pereira - 2018 - Journal of Economic Methodology 25 (1):68-82.
    This paper proposes a classification of economic models into three types: historical, axiomatic and conditional. Historical or empirical models utilize the historical-deductive method, and are generalizations from the economic regularities and tendencies that we find in the real world. Axiomatic models utilize the hypothetical-deductive method; they are syllogisms whose major premise is an axiom – a self-evident truth; they are appropriate for methodological sciences such as mathematics and econometrics. Conditional economic models are likewise syllogisms, but they are suitable for economics (...)
    Direct download (6 more)  
     
    Export citation  
     
    My bibliography  
  13.  3
    Models as Speech Acts: The Telling Case of Financial Models.Nicolas Brisset - 2018 - Journal of Economic Methodology 25 (1):21-41.
    This paper intends to bring Austinian themes into methodological discussion about models. Using Austinian conceptual vocabulary, I argue that models perform actions in and outside of the academic field. This multiplicity of fields induces a variety of felicity conditions and types of performed actions. If for example, an inference from a model is judged according to some epistemological criteria in the scientific field, the representation of the world which the model carries will not be judged by the same criteria outside (...)
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography  
  14.  6
    Varieties of Paternalism and the Heterogeneity of Utility Structures.Glenn W. Harrison & Don Ross - 2018 - Journal of Economic Methodology 25 (1):42-67.
    A principal source of interest in behavioral economics has been its advertised contributions to policies aimed at ‘nudging’ people away from allegedly natural but self-defeating behavior toward patterns of response thought more likely to improve their welfare. This has occasioned controversies among economists and philosophers around the normative limits of paternalism, especially by technical policy advisors. One recent suggestion has been that ‘boosting,’ in which interventions aim to enhance people’s general cognitive skills and representational repertoires instead of manipulating their choice (...)
    Direct download (7 more)  
     
    Export citation  
     
    My bibliography   1 citation  
  15.  8
    What is Macroeconomic Causality?Tobias Henschen - 2018 - Journal of Economic Methodology 25 (1):1-20.
    The paper aims to develop an adequate account of macroeconomic causality. It discusses the definition that is central to Woodward’s interventionist account and the definitions that can be extracted from Hoover’s remarks on privileged parameterization and from the potential outcome approach that Angrist and Kuersteiner have introduced into macroeconomics more recently. The definition to be defended can be regarded as the gist that is common to all three definitions when they are relieved of overly restrictive conditions. It says that X (...)
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography   1 citation  
  16.  7
    Understanding and Defining Institutions: The Contribution of Francesco Gual. [REVIEW]Geoffrey M. Hodgson - 2018 - Journal of Economic Methodology 25 (1):111-116.
  17.  6
    Is ‘New’ Behavioral Economics ‘Mainstream’?Alexandre Truc - 2018 - Journal of Economic Methodology 25 (1):83-104.
    When comparing ‘new’ and ‘old’ behavioral economics, many argue that ‘new’ BE has close ties with what is often called ‘mainstream’ economics. The aim of this paper is to reframe the ‘old’ vs. ‘new’ BE debate and investigate the nature of the relationship between psychologists, behavioral economists, and ‘mainstream’ economists. This will lead us to develop the concept of ‘space of interaction’, building on Galison’s metaphor of ‘trading zones’, to emphasize the role of outsiders, strategic thinking, and negotiation in ‘new’ (...)
    Direct download (4 more)  
     
    Export citation  
     
    My bibliography  
  18.  4
    A Peircean Perspective on Integrating Economics and Evolutionary Theory. [REVIEW]James R. Wible - 2018 - Journal of Economic Methodology 25 (1):105-111.
    Direct download (5 more)  
     
    Export citation  
     
    My bibliography  
 Previous issues
  
Next issues