Philosophy of the Social Sciences 36 (2):173-192 (2006)

Authors
Anna Alexandrova
Cambridge University
Abstract
Can social phenomena be understood by analyzing their parts? Contemporary economic theory often assumes that they can. The methodology of constructing models which trace the behavior of perfectly rational agents in idealized environments rests on the premise that such models, while restricted, help us isolate tendencies, that is, the stable separate effects of economic causes that can be used to explain and predict economic phenomena. In this paper, I question both the claim that models in economics supply claims about tendencies and also the view that economics, when successful, necessarily follows this method. When economics licenses successful policy interventions, as it did in the case of the Federal Communications Commission spectrum auctions, its method is not to study tendencies but rather to study the phenomenon as a whole. Key Words: economic models • tendencies • economic experiments • policy making • John Stuart Mill.
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DOI 10.1177/0048393106287210
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References found in this work BETA

Making Things Happen. A Theory of Causal Explanation.Michael Strevens - 2007 - Philosophy and Phenomenological Research 74 (1):233-249.

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Modelling and Representing: An Artefactual Approach to Model-Based Representation.Tarja Knuuttila - 2011 - Studies in History and Philosophy of Science Part A 42 (2):262-271.
Economic Modelling as Robustness Analysis.Jaakko Kuorikoski, Aki Lehtinen & Caterina Marchionni - 2010 - British Journal for the Philosophy of Science 61 (3):541-567.

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