An Inquiry into the Explanatory Virtues of Transaction Cost Economics

Journal of Philosophical Economics 5 (1):120-147 (2011)
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Abstract

The aim of this paper is twofold. First, we offer a methodological reflection on how the explanatory virtues of economic theories can be assessed in a systematic way. Second, we use that theoretical apparatus to study the explanatory virtues of Transaction Cost Economics (TCE, henceforth). Precisely, we are primarily interested in assessing the progress within TCE with respect to its explanatory power rather than directly comparing TCE’s explanatory virtues to alternative theories. The paper offers also some general insights into the way we compare economic theories.

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Lukasz Hardt
University of Warsaw

Citations of this work

Between Isolations and Constructions: Economic Models as Believable Worlds.Lukasz Hardt - 2016 - Poznan Studies in the Philosophy of the Sciences and the Humanities 106.

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