Switch to: References

Citations of:

Progress in economics: Lessons from the spectrum auctions

In Harold Kincaid & Don Ross (eds.), The Oxford Handbook of Philosophy of Economics. Oxford University Press. pp. 306--337 (2009)

Add citations

You must login to add citations.
  1. When Are Purely Predictive Models Best?Robert Northcott - 2017 - Disputatio 9 (47):631-656.
    Can purely predictive models be useful in investigating causal systems? I argue ‘yes’. Moreover, in many cases not only are they useful, they are essential. The alternative is to stick to models or mechanisms drawn from well-understood theory. But a necessary condition for explanation is empirical success, and in many cases in social and field sciences such success can only be achieved by purely predictive models, not by ones drawn from theory. Alas, the attempt to use theory to achieve explanation (...)
    Download  
     
    Export citation  
     
    Bookmark   3 citations  
  • Buyer Beware: Robustness Analyses in Economics and Biology.Jay Odenbaugh & Anna Alexandrova - 2011 - Biology and Philosophy 26 (5):757-771.
    Theoretical biology and economics are remarkably similar in their reliance on mathematical models, which attempt to represent real world systems using many idealized assumptions. They are also similar in placing a great emphasis on derivational robustness of modeling results. Recently philosophers of biology and economics have argued that robustness analysis can be a method for confirmation of claims about causal mechanisms, despite the significant reliance of these models on patently false assumptions. We argue that the power of robustness analysis has (...)
    Download  
     
    Export citation  
     
    Bookmark   32 citations  
  • Prediction Versus Accommodation in Economics.Robert Northcott - 2019 - Journal of Economic Methodology 26 (1):59-69.
    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 (...)
    Download  
     
    Export citation  
     
    Bookmark  
  • The Explanation Paradox.Julian Reiss - 2012 - Journal of Economic Methodology 19 (1):43-62.
    This paper examines mathematical models in economics and observes that three mutually inconsistent hypotheses concerning models and explanation are widely held: (1) economic models are false; (2) economic models are nevertheless explanatory; and (3) only true accounts explain. Commentators have typically resolved the paradox by rejecting either one of these hypotheses. I will argue that none of the proposed resolutions work and conclude that therefore the paradox is genuine and likely to stay.
    Download  
     
    Export citation  
     
    Bookmark   35 citations  
  • Opinion Polling and Election Predictions.Robert Northcott - 2014 - Philosophy of Science 82 (5):1260-1271.
    Election prediction by means of opinion polling is a rare empirical success story for social science. I examine the details of a prominent case, drawing two lessons of more general interest: Methodology over metaphysics. Traditional metaphysical criteria were not a useful guide to whether successful prediction would be possible; instead, the crucial thing was selecting an effective methodology. Which methodology? Success required sophisticated use of case-specific evidence from opinion polling. The pursuit of explanations via general theory or causal mechanisms, by (...)
    Download  
     
    Export citation  
     
    Bookmark   2 citations  
  • Idealization and the Aims of Economics: Three Cheers for Instrumentalism: Julian Reiss.Julian Reiss - 2012 - Economics and Philosophy 28 (3):363-383.
    This paper aims to provide characterizations of realism and instrumentalism that are philosophically interesting and applicable to economics; and to defend instrumentalism against realism as a methodological stance in economics. Starting point is the observation that ‘all models are false’, which, or so I argue, is difficult to square with the realist's aim of truth, even if the latter is understood as ‘partial’ or ‘approximate’. The three cheers in favour of instrumentalism are: Once we have usefulness, truth is redundant. There (...)
    Download  
     
    Export citation  
     
    Bookmark   3 citations  
  • It's Just a Feeling: Why Economic Models Do Not Explain.Anna Alexandrova & Robert Northcott - 2013 - Journal of Economic Methodology 20 (3):262 - 267.
    Julian Reiss correctly identified a trilemma about economic models: we cannot maintain that they are false, but nevertheless explain and that only true accounts explain. In this reply we give reasons to reject the second premise ? that economic models explain. Intuitions to the contrary should be distrusted.
    Download  
     
    Export citation  
     
    Bookmark   9 citations  
  • Verisimilitude: A Causal Approach.Robert Northcott - 2013 - Synthese 190 (9):1471-1488.
    I present a new definition of verisimilitude, framed in terms of causes. Roughly speaking, according to it a scientific model is approximately true if it captures accurately the strengths of the causes present in any given situation. Against much of the literature, I argue that any satisfactory account of verisimilitude must inevitably restrict its judgments to context-specific models rather than general theories. We may still endorse—and only need—a relativized notion of scientific progress, understood now not as global advance but rather (...)
    Download  
     
    Export citation  
     
    Bookmark   8 citations  
  • The Efficiency Question in Economics.Northcott Robert - 2018 - Philosophy of Science 85 (5):1140-1151.
    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 (...)
    Download  
     
    Export citation  
     
    Bookmark  
  • Method Pluralism, Method Mismatch, & Method Bias.Adrian Currie & Shahar Avin - 2019 - Philosophers' Imprint 19.
    Pluralism about scientific method is more-or-less accepted, but the consequences have yet to be drawn out. Scientists adopt different methods in response to different epistemic situations: depending on the system they are interested in, the resources at their disposal, and so forth. If it is right that different methods are appropriate in different situations, then mismatches between methods and situations are possible. This is most likely to occur due to method bias: when we prefer a particular kind of method, despite (...)
    Download  
     
    Export citation  
     
    Bookmark   3 citations  
  • Modelling Beyond Application: Epistemic and Non-Epistemic Values in Modern Science.Ekaterina Svetlova - 2014 - International Studies in the Philosophy of Science 28 (1):79-98.
    In recent years, philosophers of science have begun to realize that the clear separation of the creation of models in academia and the application of models outside science is not possible. When these philosophers address hybrid contexts in which science is entwined with policy, business, and other realms of society, these often practically oriented realms no longer represent ‘the surroundings’ of science but rather are considered an essential part of it. I argue—and demonstrate empirically—that the judgement of a theory or (...)
    Download  
     
    Export citation  
     
    Bookmark  
  • Philosophy of Science or Science and Technology Studies? Economic Methodology and Auction Theory.Ivan A. Boldyrev - 2012 - International Studies in the Philosophy of Science 26 (3):289-307.
    This article addresses some recent tendencies in economic methodology defined as a philosophy of science for economics. I review the problem of normative/positive distinction in methodology and argue that normativity in its past forms is intolerable today but is, at the same time, indispensable for methodological inquiry. Using recent texts by Mirowski and Nik-Khah and by Alexandrova and Northcott on the applications of auction theory as a case study, I compare in more detail various approaches to economic methodology inspired by (...)
    Download  
     
    Export citation  
     
    Bookmark  
  • How Does Game Theory Inform Economic Engineering?Philippe van Basshuysen - unknown
    How is it possible that models from game theory, which are typically highly idealised, can be harnessed for designing institutions through which we interact? I argue that game theory assumes that social interactions have a specific structure, which is uncovered with the help of directed graphs. The graphs make explicit how game theory encodes counterfactual information in natural collections of its models and can therefore be used to track how model-interventions change model-outcomes. For model-interventions to inform real-world design requires the (...)
    Download  
     
    Export citation  
     
    Bookmark