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Empirical adequacy matters directly - as it does for antirealists - if we aim to get all or most of the observable facts right, or indirectly - as it does for realists - as a symptom that the claims we make about the theoretical facts are right. But why should getting the facts - either theoretical or empirical - right be required of an acceptable theory? Here we endorse two other jobs that good theories are expected to do: helping us (...) |
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Neuroscientists have in recent years turned to building models that aim to generate predictions rather than explanations. This “predictive turn” has swept across domains including law, marketing, and neuropsychiatry. Yet the norms of prediction remain undertheorized relative to those of explanation. I examine two styles of predictive modeling and show how they exemplify the normative dynamics at work in prediction. I propose an account of how predictive models, conceived of as technological devices for aiding decision-making, can come to be adequate (...) |
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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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Should we insist on prediction, i.e. on correctly forecasting the future? Or can we rest content with accommodation, i.e. empirical success only with respect to the past? I apply general considerations about this issue to the case of economics. In particular, I examine various ways in which mere accommodation can be sufficient, in order to see whether those ways apply to economics. Two conclusions result. First, an entanglement thesis: the need for prediction is entangled with the methodological role of orthodox (...) |
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Has the rise of data-intensive science, or ‘big data’, revolutionized our ability to predict? Does it imply a new priority for prediction over causal understanding, and a diminished role for theory and human experts? I examine four important cases where prediction is desirable: political elections, the weather, GDP, and the results of interventions suggested by economic experiments. These cases suggest caution. Although big data methods are indeed very useful sometimes, in this paper’s cases they improve predictions either limitedly or not (...) |
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In recent years, neuroscience has begun to transform itself into a “big data” enterprise with the importation of computational and statistical techniques from machine learning and informatics. In addition to their translational applications such as brain-computer interfaces and early diagnosis of neuropathology, these tools promise to advance new solutions to longstanding theoretical quandaries. Here I critically assess whether these promises will pay off, focusing on the application of multivariate pattern analysis (MVPA) to the problem of reverse inference. I argue that (...) |
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