This paper investigates the interaction between semantic theories for cp-laws (roughly, laws that hold “all things equal”) and metaphysical theories of kinds in the special sciences. Its central conclusion is that cp-laws concerning kinds behave differently from cp-laws concerning non-kinds: “ravens are black” which concerns the kind corvus corax, behaves differently from from “albino ravens are white” which concerns the non-kind grouping of albino ravens. I argue that this difference is in the first instance logical: the two sorts of cp-laws (...) give rise to different inferential patterns. I draw two further conclusions. The difference in logical behavior poses a severe problem for extant semantic theories of cp-laws, and: we cannot elucidate the distinction between kinds and non-kinds by suggesting that only kinds can appear in laws. (shrink)

It is argued that one can learn from minimal economic models. Minimal models are models that are not similar to the real world, do not resemble some of its features, and do not adhere to accepted regularities. One learns from a model if constructing and analysing the model affects one’s confidence in hypotheses about the world. Economic models, I argue, are often assessed for their credibility. If a model is judged credible, it is considered to be a relevant possibility. Considering (...) such relevant possibilities may affect one’s confidence in necessity or impossibility hypotheses. Thus, one can learn from minimal economic models. (shrink)

My philosophical intuitions are those of a scientific realist. In addition to being realist in its philosophical outlook, my philosophy of economics also aspires to be realistic in the sense of being descriptively adequate, or at least normatively non-utopian, about economics as a scientific discipline. The special challenge my philosophy of economics must meet is to provide a scientific realist account that is realistic of a discipline that deals with a complex subject matter and operates with highly unrealistic models. Unrealisticness (...) in economic models must not constitute an obstacle to realism about those models. What follows is a selective and somewhat abstract summary of my thinking about economics, outlined from two perspectives: first historical and autobiographical, then systematic and comparative. The first angle helps understand motives and trajectories of ideas against their backgrounds in intellectual history. My story turns out to have both unique and generalizable aspects. The second approach outlines some of the key concepts and arguments as well as their interrelations in my philosophy of economics, with occasional comparisons to other views. More space will be devoted to this second perspective than to the first. (shrink)

The 1994 US spectrum auction is now a paradigmatic case of the successful use of microeconomic theory for policy-making. We use a detailed analysis of it to review standard accounts in philosophy of science of how idealized models are connected to messy reality. We show that in order to understand what made the design of the spectrum auction successful, a new such account is required, and we present it here. Of especial interest is the light this sheds on the issue (...) of progress in economics. In particular, it enables us to get clear on exactly what has been progressing, and on exactly what theory has – and has not – contributed to that. This in turn has important implications for just what it is about economic theory that we should value. (shrink)

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 (...) between causal scenarios and causal mechanism schemes. These conceptual tools help us to articulate the basis for modelers’ intuitive confidence that their models make an important epistemic contribution. By focusing on the role of the menu of possible explanations in the evaluation of explanatory hypotheses, it is possible to understand how a causal mechanism scheme can improve our explanatory understanding even in cases where it does not describe the actual cause of a particular phenomenon. (shrink)

While the existence of human cognitive and behavioral diversity is now widely recognized, it is not yet well established how to explain this diversity. In particular, it is still unclear how to determine whether any given instance of human cognitive and behavioral diversity is due to a common psychology that is merely “triggered” differently in different bio-cultural environments, or whether it is due to deeply and fundamentally different psychologies. This paper suggests that, to answer this question, we need to employ (...) subtle theoretical considerations of theory choice—especially the consideration of the complexity-weighted differential predictive successes of the two accounts. To make this clearer, the paper develops a novel analysis of the observed differences in human sharing dispositions. (shrink)

Humans are standouts in their propensity to trade. More specially, the kind of trading found in humans—featuring the exchange of many different goods and services with many different others, for the mutual benefit of all the involved parties—far exceeds anything that is found in any other creature. However, a number of important questions about this propensity remain open. First, it is not clear exactly what makes this propensity so different in the human case from that of other animals. Second, it (...) is not clear why other animals did not acquire this propensity to the extent that humans did. Third, it is not clear what explains the fact that the extent to which humans engage in trade is culturally highly variable. The paper argues that at the heart of the human-animal divergence in this propensity is the particular socio-cultural environment in which humans evolved. This has led them to sometimes, but not always, acquire the cognitive technology (writing, algebra, tallying devices, money, etc.) to support a sophisticated disposition and capacity for reciprocal cooperation, and deep and wide concepts of property and exchange value. (shrink)

In this paper I criticize the commonly accepted idea that the generalizations of the special sciences should be construed as ceteris paribus laws. This idea rests on mistaken assumptions about the role of laws in explanation and their relation to causal claims. Moreover, the major proposals in the literature for the analysis of ceteris paribus laws are, on their own terms, complete failures. I sketch a more adequate alternative account of the content of causal generalizations in the special sciences which (...) I argue should replace the ceteris paribus conception. (shrink)

University of North Carolina at Greensboro Most approaches to the philosophy of the natural and social sciences are basedon completed scientific investigations. However, there are many importantcases in science in which testing is incomplete. These cases are termed suspendedtrials and are particularly significant in biomedical and allied health fields. Initially,the authors' interest in suspended trials was piqued by a controversialmethod for assisting autistic children known as facilitated communication. Thisarticle examines facilitated communication and other examples of suspendedtrials from the perspective of (...) an economics of science and game theory. Themodel is consistent with recent evolutionary approaches to the philosophy ofthe natural and social sciences and with recent contributions to an economicunderstanding of science. Key Words: clinical trials • innovative therapies • economics of science • suspended trials • facilitated communication • economics of clinical research. (shrink)

It has been argued that the fundamental laws of physics do not face a ‘problem of provisos’ equivalent to that found in other scientific disciplines (Earman, Roberts and Smith 2002) and there is only the appearance of exceptions to physical laws if they are confused with differential equations of evolution type (Smith 2002). In this paper I argue that even if this is true, fundamental laws in physics still pose a major challenge to standard Humean approaches to lawhood, as they (...) are not in any obvious sense about regularities in behaviour. A Humean approach to physical laws with exceptions is possible, however, if we adopt a view of laws that takes them to be the algorithms in the algorithmic compressions of empirical data. When this is supplemented with a distinction between lossy and lossless compression, we can explain exceptions in terms of compression artefacts present in the application of the lossy laws. (shrink)

How can we use models to understand real phenomena if models misrepresent the very phenomena we seek to understand? Some accounts suggest that models may afford understanding by providing causal knowledge about phenomena via how-possibly explanations. However, general equilibrium models, for example, pose a challenge to this solution since their contribution appears to be purely mathematical results. Despite this, practitioners widely acknowledge that it improves our understanding of the world. I argue that the Arrow–Debreu model provides a mathematical how-possibly explanation (...) which establishes claims of mathematical dependence. The account developed reveals how mathematical knowledge can inform claims about the world, allow ‘what-if-things-had-been-different’ inferences, and thus improve our understanding. (shrink)

One puzzle concerning highly idealized models is whether they explain. Some suggest they provide so-called ‘how-possibly explanations’. However, this raises an important question about the nature of how-possibly explanations, namely what distinguishes them from ‘normal’, or how-actually, explanations? I provide an account of how-possibly explanations that clarifies their nature in the context of solving the puzzle of model-based explanation. I argue that the modal notions of actuality and possibility provide the relevant dividing lines between how-possibly and how-actually explanations. Whereas how-possibly (...) explanations establish claims of possible explanations, how-actually explanations establish claims of actual ones. Models, in turn, simply provide evidence for these claims. (shrink)

This essay offers some reflections on Samir Okasha’s new monograph Agents and Goals in Evolution, his style of doing philosophy, and the broader philosophy of nature project of trying to make sense of agency and rationality as natural phenomena.

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 (...) models, their multiplicity of functions within science, and their scientific context and history and for almost any aspect x of phenomenon y, scientists require multiple models to achieve scientific goal z. (shrink)

This commentary focuses on the parts of psychological game theory dealing with preference, as illustrated by team reasoning, and supports the conclusion that these theoretical notions do not contribute above and beyond existing theory in understanding social interaction. In particular, psychology and games are already bridged by a comprehensive, formal, and inherently psychological theory, interdependence theory (Kelley & Thibaut 1978; Kelley et al. 2003), which has been demonstrated to account for a wide variety of social interaction phenomena.

We discuss in this paper the scope of abduction in Economics. The literature on this type of inference shows that it can be interpreted in different ways, according to the role and nature of its outcome. We present a formal model that allows to capture these various meanings in different economic contexts.

Most papers in theoretical economics contain thought experiments. They take the form of more informal bits of reasoning that precede the presentation of the formal, mathematical models these papers are known for. These thought experiments differ from the formal models in various ways. In particular, they do not invoke the same idealized assumptions about the rationality, knowledge, and preferences of agents. The presence of thought experiments in papers that present formal models, and the fact that they differ from the formal (...) models in this way, is often ignored in debates on what, if anything, we can learn from formal models in theoretical economics. I show that paying due attention to thought experiments in theoretical economics has serious implications for this debate. Differences between thought experiments and formal models are especially problematic for Robert Sugden’s “credible worlds” account. (shrink)

According to Margaret Gilbert’s collective epistemology, we should take attributions of beliefs to groups seriously, rather than metaphorically or as reducible to individual belief. I argue that, similarly, attributions of belief to markets ought to be taken seriously and not merely as reports of the average beliefs of market participants. While many of Gilbert’s purported examples of group belief are better thought of as instances of acceptance, some collectives, such as courts and markets, genuinely believe. Such collectives enact truth-aimed processes (...) that are beyond the control of any single individual. These processes produce beliefs that are distinct from any individual belief and do not merely report the “average” or “majority” view of the group. In the case of markets, beliefs are indicated by prices, though it is often difficult to infer beliefs from prices and those inferences are almost always uncertain. Reliabilism is the best available standard of justification for market beliefs. In some cases market beliefs are reliable and prove to be true. Thus, in some cases markets can know. (shrink)

This paper presents an account of how to evaluate formal models of science: models and simulations in social epistemology designed to draw normative conclusions about the social structure of scientific research. I argue that such models should be evaluated according to their representational and predictive accuracy. Using these criteria and comparisons with familiar models from science, I argue that most formal models of science are incapable of supporting normative conclusions.

In a broad brush, biological models are often constructed in two general types: as a concrete model; as an abstract model. A concrete model is a material model such as model organisms, while an abstract model is a mathematical or computational model consists of equations or algorithms. Though there are types of biological models that cannot be strictly categorized as either concrete or abstract, they are falling somewhere in between this spectrum. In view of the fact that biological phenomena are (...) sui generis and distinct from physical phenomena in many respects, using the concepts in standard modeling fails to account for the differences between biological sciences and physical sciences. Drawing from the resources of a credible-world account of models in economic modeling, I propose to reinterpret abstract models and concrete models in the light of the credible world account of models. (shrink)

Is there a unique way to de-idealize models? If not, how might the possible ways of reducing the distortion between models and reality differ from each other? Based on an empirical case study conducted in financial markets, this paper discusses how a popular valuation model (the Discounted Cash Flow model) idealizes reality and how the market participants de-idealize it in concrete market situations. In contrast to Cartwright's view that economic models are generally over-constrained, this paper suggests that valuation models are (...) under-constrained. This serves as the reason why the relaxation of simplifying assumptions and concretization do not work as methods of de-idealization. The paper finds that financial market participants de-idealize models using commentary that takes the form of judgment. As a conclusion, a hypothesis is formulated that proposes that the more underdetermined the model is the bigger role narrative and other pragmatic elements play in the process of model application. (shrink)

In this note, I comment on Julian Reiss's paper ?The explanation paradox?. I argue in support of two of the propositions that make up that paradox (that economic models are false, and that they are explanatory) but challenge the third proposition, that only true accounts can explain. I defend the ?credible worlds? account of models as fictions that are explanatory by virtue of similarity relations with real-world phenomena. I argue that Reiss's objections to the role of subjective similarity judgements in (...) explanation illegitimately presuppose the existence of rational criteria by which science can certify the objective validity of its explanation. (shrink)

This paper asks how, in science in general and in economics in particular, theoretical models aid the understanding of real-world phenomena. Using specific models in economics and biology as test cases, it considers three alternative answers: that models are tools for isolating the ‘capacities’ of causal factors in the real world; that modelling is ‘conceptual exploration’ which ultimately contributes to the development of genuinely explanatory theories; and that models are credible counterfactual worlds from which inductive inferences can be made. The (...) paper argues that the ‘credible worlds’ account captures significant aspects of scientific practice, even if many modellers see their work as conceptual exploration. (shrink)

This paper considers the debate between economists and philosophers about the role of values in economic analysis by examining the recent debate between Hilary Putnam and Sir Partha Dasgupta. It argues that although there has been a failure to communicate there is much more agreement than it seems. If Dasgupta's work is seen as part of the methodological tradition expounded by John Stuart Mill and John Neville Keynes, economists and philosophers will have a better basis for understanding each other. Unlike (...) the logical-positivist tradition, which treats facts and values as two mutually exclusive concepts, the Mill- Keynes tradition recognizes that facts and values are intertwined. Unlike the Smithian tradition, which blends the study of facts and normative rules, it divides economics into a science that studies "what is" and an art which considers "what ought to be done". (shrink)

Why are causal generalizations in the higher-level sciences “inexact”? That is, why do they have apparent exceptions? This paper offers one explanation: many causal generalizations cite as their antecedent—the \(F\) in \(Fs\,\, {\textit{are}}\,\, G\) —a property that is not causally relevant to the consequent, but which is rather “entangled” with a causally relevant property. Entanglement is a relation that may exist for many reasons, and that allows of exceptions. Causal generalizations that specify entangled but causally irrelevant antecedents therefore tolerate exceptions.

What do the words "ceteris paribus" add to a causal hypothesis, that is, to a generalization that is intended to articulate the consequences of a causal mechanism? One answer, which looks almost too good to be true, is that a ceteris paribus hedge restricts the scope of the hypothesis to those cases where nothing undermines, interferes with, or undoes the effect of the mechanism in question, even if the hypothesis's own formulator is otherwise unable to specify fully what might constitute (...) such undermining or interference. I will propose a semantics for causal generalizations according to which ceteris paribus hedges deliver on this promise, because the truth conditions for a causal generalization depend in part on the—perhaps unknown—nature of the mechanism whose consequences it is intended to describe. It follows that the truth conditions for causal hypotheses are typically opaque to the very scientists who formulate and test them. (shrink)

This essay examines the issue of false assumptions in models via a case study of a prominent economic model of sustainable development, wherein the assumption of an infinite future plays a central role. Two proposals are found to be helpful for this case, one based on the concept of derivational robustness and the other on understanding. Both suggest that the assumption of an infinite future, while arguably legitimate in some applications of the model, is problematic with respect to what I (...) call “Parfitian” welfare functions. This result is relevant to debates about discounting the future in economics and environmental ethics. (shrink)

This article examines methodological individualism in terms of the theory that invariance under intervention is the signal feature of generalizations that serve as a basis for causal explanation. This theory supports the holist contention that macro-level generalizations can explain, but it also suggests a defense of methodological individualism on the grounds that greater range of invariance under intervention entails deeper explanation. Although this individualist position is not threatened by multiple-realizability, an argument for it based on rational choice theory is called (...) into question by experimental results concerning preference reversals. Key Words: methodological individualism • mechanisms • explanation • invariance • preference reversal. (shrink)

A citizens’ movement in Berlin advocates for the expropriation of housing corporations and has won a significant majority in a popular referendum in September 2021. Building on this proposal, this paper develops a general account of expropriation as a measure for corporate reform and thereby contributes to the ongoing debate on the democratic accountability of business corporations. It argues that expropriation is a valuable tool for intervention in a dire situation in some economic sector to enable a re-structuring of the (...) governance of the assets in question. Compared with other tools available, expropriation is a more forward-looking, genuinely political measure that does not depend on the legal assignment of guilt but rather proceeds in a pragmatic and problem-oriented manner. It also allows us to reconsider in how far the market mechanism should be employed in the administration of assets. Objections from private property rights against expropriation fail as corporations generally are privileged, quasi-public institutions that can justifiably be subject to democratic interventions. Expropriation is thus an important addition to the arsenal of corporate reform proposals, especially for those concerned with a broad democratization of the corporation. (shrink)

A centipede can walk until it thinks about howit does so. Thereafter it stumbles, over thesheer impossibility of the information andcoordination required. Life in the economy islittle different. Those engaged in productionand exchange discover, pragmatically, ways tomake them work. Those observing the processsee, realistically, the immense improbabilitythat it should do so. That most economies workin practice, but must pass such toughteleological tests to succeed in theory,highlights a difference between players' andspectators' outlook which may help to explainwhy the game has repeatedly (...) been thrown wideopen just when conclusive results seemed withinreach.Section 1 of this paper identifies the fourforms of realism which economists have tendedto adopt. Section 2 considers the pragmatism ofeconomic agents, when observed in action bypsychologists and management scholars notoverly steeped in economic theory. Theconcluding section reviews the ways in whicheconomists have tried to blur the distinction,by reclassifying agents as realistic or theirown views as pragmatic, and suggests that amore pragmatic economics might bridge thedivide. (shrink)

The ubiquity of the term CSR threatens its carrying any distinctive meaning. Despite its long history no consensus has been developed among the industry participants, academics or other interested parties. After a careful review of the complications and complexities of the CSR debate and distinct disciplinary definitions, the article turns to approach the problem of definition using the philosophy of science. It applies a scientific definitional approach of genus, differentia and species to arrive at a definition of CSR as international (...) private business self-regulation. The article provides an overview of the implications of this definition on CSR as a field of study, a management practice and an approach to improving the dialogue concerning the social contribution of business. (shrink)

It is undeniable that much scientific work is model-based. Despite this, the justification for this reliance on models is still controversial. A particular difficulty here is the fact that many scientific models are based on assumptions that do not describe the exact details of many or even any empirical situations very well. This raises the question of why it is that, despite their frequent lack of descriptive accuracy, employing models is scientifically useful.One..

In this paper, I consider the recent resurgence of “evolutionary economics”—the idea that evolutionary theory can be very useful to push forward key debates in economics—and assess the extent to which it rests on a plausible foundation. To do this, I first distinguish two ways in which evolutionary theory can, in principle, be brought to bear on an economic problem—namely, evidentially and heuristically—and then apply this distinction to the three major hypotheses that evolutionary economists have come to defend: the implausibility (...) of rational choice theory as an account of economic rationality, the idea that firms are autonomous economic agents, and the need for a more dynamic, less equilibrium-focused economic methodology. In each of these cases, I conclude negatively: the relevant evolutionary considerations neither suggest interesting and novel hypotheses to investigate further nor are backed up by the needed data to constitute genuine evidence. I end by distinguishing this criticism of evolutionary economics from others that have been put forward in the literature: in particular, I make clear that, unlike those of other critics, the arguments of this paper are based on epistemic—not structural—considerations and therefore leave more room for a plausible form of evolutionary economics to come about in the future. (shrink)

This paper argues for theoretical modeling and model-construction as central types of activities that philosophers of social ontology engage in. This claim is defended through a detailed case study and revisionary interpretation of Raimo Tuomela’s account of the we-perspective. My interpretation is grounded in Ronald Giere’s account of scientific models, and argued to be compatible with, but less demanding than Tuomela’s own description of his account as a philosophical theory of the social world. My approach is also suggested to be (...) applicable to many other methodologically naturalist accounts of collective intentionality and social ontology. (shrink)

In this paper, I adopt the view that if general forces or processes can be detected in ecology, then the principles or models that represent them should provide predictions that are approximately correct and, when not, should lead to the sorts of intervening factors that usually make trouble. I argue that Lotka–Volterra principles do not meet this standard; in both their simple “strategic” and their complex “tactical” forms they are not approximately correct of the findings of the laboratory experiments and (...) historical studies most likely to confirm them; nor do they instruct ecologists where to look for likely intervening factors. Evidence drawn from long-term case studies and other available data sets suggests that the populations of predators and their prey are not regulated by an interaction between them but are controlled by transient, contingent, and accidental events that affect each animal and each population individualistically. This paper argues that the presence of general forces or processes in ecology should be determined by comparing competing models of these forces not just to each other or to a null model but also to case studies that may challenge theoretical approaches with convincing individualistic causal accounts of the phenomena. (shrink)

Brian Epstein has recently argued that a thoroughly microfoundationalist approach towards economics is unconvincing for metaphysical reasons. Generally, Epstein argues that for an improvement in the methodology of social science we must adopt social ontology as the foundation of social sciences; that is, the standing microfoundationalist debate could be solved by fixing economics’ ontology. However, as I show in this paper, fixing the social ontology prior to the process of model construction is optional instead of necessary and that metaphysical-ontological commitments (...) are often the outcome of model construction, not its starting point. By focusing on the practice of modeling in economics the paper provides a useful inroad into the debate about the role of metaphysics in the natural and social sciences more generally. (shrink)

Imagine asking a typical, well informed, contemporary philosopher whether or not she considered biology to be a science. Our informant, being a philosopher, would not necessarily respond with the straightforward “of course” that would be expected from anyone else. She might first reason through a complicated and heavily qualified definition of science, or she might distinguish certain parts of biology that she held to be more clearly scientific than others. If she were partial to a certain sort of critical stance, (...) she might question the political basis for wishing to dignify certain parts of our inquisitive practice with the honorific ‘scientific’ in the first place. But there is at least one thing that she would almost certainly not do. She would not simultaneously embrace a version of the conventional philosophical view of science and deny that biology is a science. This is despite the fact that, as she will acknowledge, biology exploits a range of methodologies and explanatory strategies that have not yet admitted of systematic, consensual philosophical explication. (shrink)

To what use can causal claims established in good policy studies be put? We isolate two reasons inferences from study to target fail. First, policy variables do not produce results on their own; they need helping factors. The distribution of helping factors is likely to be unique or local for each study, so one cannot expect external validity to be all that common. Second, researchers often give too concrete a description of the cause in the study for it to carry (...) over to the target. Abstraction is necessary to get causes that travel. There is no sure-fire way to guard against these problems. But the unavailability of one perfect tool does not imply there are no second best contrivances. Two general pointers for Good Practice in policy advice follow from our diagnosis: focus on the concrete details in the target and use cross discipline heuristics that diversify background knowledge. (shrink)

To what use can causal claims established in good studies be put? We give examples of studies from which inaccurate inferences were made about target policy situations. The usual diagnosis is that the studies in question lack external validity, which means that the same results do not hold in the target as in study. That’s a label that just repeats what we already knew. We offer a deeper analysis. Our analysis points to the need for interdisciplinarity and to the demand (...) to focus not on the study – as the expression ‘external validity’ invites you to do – but on the target. The call for interdisciplinary approaches to real life problems is common since it is widely acknowledged that what happens in the real world seldom falls under the auspices of any single research domain. Our focus is on one specific real life problem: how to use causal claims from good studies to help predict whether the policies tested will work in a new situation. Our analysis of what it takes to back up these predictions points up very specific stages in the process of prediction where we are bound to get it wrong if we do not diversify our concepts, our knowledge and our methods. We isolate two reasons inferences from study to target fail. First, policy variables do not produce results on their own; they need helping factors. The distribution of helping factors is likely to be unique or local for each study, so one cannot expect external validity to be all that common. Second, researchers often give too concrete a description of the cause in the study for it to carry over to the target.ion is necessary to get causes that travel. There is no sure-fire way to guard against these problems. But the unavailability of one perfect tool does not imply there are no second best contrivances. Two general pointers for Good Practice in policy advice follow from our diagnosis: focus on the concrete details in the target and use cross discipline heuristics that diversify background knowledge. (shrink)

Stipulating universal propositions with a ceteris paribus clause is normal practice in science and especially in economics. Yet there are several problems associated with the use of ceteris paribus clauses in theorising and in policy matters. This paper first investigates three questions: how can ceteris paribus clauses be non-vacuous? How can ceteris paribus laws be true? And how can they help in formulating successful policy interventions in a diversity of contexts? It turns out that ceteris paribus clauses are not always (...) used legitimately. They are meant to fence off a theory from disturbing factors, but economists who do not specify the clause well enough tend to fence variables in rather than off. In such cases, it would be better to use theoretical abstraction, which is something very different from the use of ceteris paribus clauses. However, abstract theorising conceptually leads one away from the concrete detail of real world situations in which policies take place. Hence, a fourth question arises: how can policy interventions be properly designed on the basis of abstract laws? To answer this question, I defend interdisciplinarity in concept choice. (shrink)

Laws in the special sciences are usually regarded to be non-universal. A theory of laws in the special sciences faces two challenges. (I) According to Lange's dilemma, laws in the special sciences are either false or trivially true. (II) They have to meet the ?requirement of relevance?, which is a way to require the non-accidentality of special science laws. I argue that both challenges can be met if one distinguishes four dimensions of (non-) universality. The upshot is that I argue (...) for the following explication of special science laws: L is a special science law just if (1) L is a system law, (2) L is quasi-Newtonian, and (3) L is minimally invariant. (shrink)

In investigating their models, economists do not appear to engage much in the activities many philosophers take to be essential to scientific understanding of the world, activities such as testing hypotheses and establishing laws. How, then, can economic models explain anything about the real world? Borrowing from William Dray, an explanation of what something really is, as opposed to an explanation of why something happens, is the subsumption of the explanandum under a suitable concept. One way economic models explain real-world (...) phenomena is by providing explanations-what of such phenomena. In this way, economic models can afford explanations of the world without necessarily involving the activities philosophers take to be integral to scientific understanding of the world, for explanations-what do not necessarily involve the activities in question. (shrink)