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The Vanity of Rigour in Economics: Theoretical Models and Galilean Experiments

Lse, Centre for the Philosophy of the Natural and Social Sciences (1999)

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  1. Economic Modelling as Robustness Analysis.Jaakko Kuorikoski, Aki Lehtinen & Caterina Marchionni - 2010 - British Journal for the Philosophy of Science 61 (3):541-567.
    We claim that the process of theoretical model refinement in economics is best characterised as robustness analysis: the systematic examination of the robustness of modelling results with respect to particular modelling assumptions. We argue that this practise has epistemic value by extending William Wimsatt's account of robustness analysis as triangulation via independent means of determination. For economists robustness analysis is a crucial methodological strategy because their models are often based on idealisations and abstractions, and it is usually difficult to tell (...)
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  • Epistemic artifacts and the modal dimension of modeling.Tarja Knuuttila - 2021 - European Journal for Philosophy of Science 11 (3):1-18.
    The epistemic value of models has traditionally been approached from a representational perspective. This paper argues that the artifactual approach evades the problem of accounting for representation and better accommodates the modal dimension of modeling. From an artifactual perspective, models are viewed as erotetic vehicles constrained by their construction and available representational tools. The modal dimension of modeling is approached through two case studies. The first portrays mathematical modeling in economics, while the other discusses the modeling practice of synthetic biology, (...)
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  • Choosing the right model for policy decision-making: the case of smallpox epidemiology.Till Grüne-Yanoff - 2018 - Synthese 198 (Suppl 10):2463-2484.
    Policymakers increasingly draw on scientific methods, including simulation modeling, to justify their decisions. For these purposes, scientists and policymakers face an extensive choice of modeling strategies. Discussing the example of smallpox epidemiology, this paper distinguishes three types of strategies: Massive Simulation Models (MSMs), Abstract Simulation Models (ASMs) and Macro Equation Models (MEMs). By analyzing some of the main smallpox epidemic models proposed in the last 20 years, it discusses how to justify strategy choice with reference to the core characteristics of (...)
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  • Model Diversity and the Embarrassment of Riches.Walter Veit - unknown
    In a recent special issue dedicated to Dani Rodrik’s (2015) influential monograph Economics Rules, Grüne-Yanoff and Marchionni (2018) raise a potentially damning problem for Rodrik’s suggestion that progress in economics should be understood and measured laterally, by a continuous expansion of new models. They argue that this could lead to an “embarrassment of riches”, i.e. the rapid expansion of our model library to such an extent that we become unable to choose between the available models, and thus needs to be (...)
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  • Social Ontology and Model-Building: A Response to Epstein.Nadia Ruiz - 2021 - Philosophy of the Social Sciences 51 (2):176-192.
    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 (...)
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  • Models, Fictions and Artifacts.Tarja Knuuttila - 2021 - In Wenceslao J. Gonzalez (ed.), Language and Scientific Research. Springer Verlag. pp. 199-22.
    This paper discusses modeling from the artifactual perspective. The artifactual approach conceives models as erotetic devices. They are purpose-built systems of dependencies that are constrained in view of answering a pending scientific question, motivated by theoretical or empirical considerations. In treating models as artifacts, the artifactual approach is able to address the various languages of sciences that are overlooked by the traditional accounts that concentrate on the relationship of representation in an abstract and general manner. In contrast, the artifactual approach (...)
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  • Deidealization: No Easy Reversals.Tarja Knuuttila & Mary S. Morgan - 2019 - Philosophy of Science 86 (4):641-661.
    Deidealization as a topic in its own right has attracted remarkably little philosophical interest despite the extensive literature on idealization. One reason for this is the often implicit assumption that idealization and deidealization are, potentially at least, reversible processes. We question this assumption by analyzing the challenges of deidealization within a menu of four broad categories: deidealizing as recomposing, deidealizing as reformulating, deidealizing as concretizing, and deidealizing as situating. On closer inspection, models turn out much more inflexible than the reversal (...)
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  • Evaluating Formal Models of Science.Michael Thicke - 2020 - Journal for General Philosophy of Science / Zeitschrift für Allgemeine Wissenschaftstheorie 51 (2):315-335.
    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.
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  • Imagination extended and embedded: artifactual versus fictional accounts of models.Tarja Knuuttila - 2017 - Synthese 198 (Suppl 21):5077-5097.
    This paper presents an artifactual approach to models that also addresses their fictional features. It discusses first the imaginary accounts of models and fiction that set model descriptions apart from imagined-objects, concentrating on the latter :251–268, 2010; Frigg and Nguyen in The Monist 99:225–242, 2016; Godfrey-Smith in Biol Philos 21:725–740, 2006; Philos Stud 143:101–116, 2009). While the imaginary approaches accommodate surrogative reasoning as an important characteristic of scientific modeling, they simultaneously raise difficult questions concerning how the imagined entities are related (...)
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  • What’s so special about empirical adequacy?Sindhuja Bhakthavatsalam & Nancy Cartwright - 2017 - European Journal for Philosophy of Science 7 (3):445-465.
    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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  • Model templates within and between disciplines: from magnets to gases – and socio-economic systems.Tarja Knuuttila & Andrea Loettgers - 2016 - European Journal for Philosophy of Science 6 (3):377-400.
    One striking feature of the contemporary modelling practice is its interdisciplinary nature. The same equation forms, and mathematical and computational methods, are used across different disciplines, as well as within the same discipline. Are there, then, differences between intra- and interdisciplinary transfer, and can the comparison between the two provide more insight on the challenges of interdisciplinary theoretical work? We will study the development and various uses of the Ising model within physics, contrasting them to its applications to socio-economic systems. (...)
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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.
    The recent discussion on scientific representation has focused on models and their relationship to the real world. It has been assumed that models give us knowledge because they represent their supposed real target systems. However, here agreement among philosophers of science has tended to end as they have presented widely different views on how representation should be understood. I will argue that the traditional representational approach is too limiting as regards the epistemic value of modelling given the focus on the (...)
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  • Scientific fictions as rules of inference.Mauricio Suárez - 2008 - In Mauricio Suárez (ed.), Fictions in Science: Philosophical Essays on Modeling and Idealization. New York: Routledge. pp. 158--178.
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  • Paradox postponed.Daniel M. Hausman - 2013 - Journal of Economic Methodology 20 (3):250 - 254.
    This comment argues that there is an explanation paradox in economics, as Julian Reiss maintains, only if models in economics succeed in explaining even though they are not approximately true, fail to identify the causes of what they purport to explain, and misdescribe the mechanism by which the causes lead to the effects to be explained. Reiss provides no reason to believe that models that do not describe the causes and mechanisms at work are nevertheless explanatory.
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  • Cartwright and Mill on Tendencies and Capacities.Christoph Schmidt-Petri - 2008 - In Stephan Hartmann, Luc Bovens & Carl Hoefer (eds.), Nancy Cartwright’s Philosophy of Science. New York: Routledge. pp. 291--302.
    This paper examines the relation between Cartwright's concept of 'capacities' and Mill's concept of 'tendencies' and argues that they are not equivalent. Cartwright's concept of 'capacities' and her motivation to adopt it as a central notion in her philosophy of science are described. It is argued that the Millian concept of 'tendencies' is distinct because Mill restricts its use to a set of special cases. These are the cases in which causes combine 'mechanically'. Hence for Mill 'tendencies' do not merely (...)
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  • Connecting economic models to the real world: Game theory and the fcc spectrum auctions.Anna Alexandrova - 2006 - Philosophy of the Social Sciences 36 (2):173-192.
    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 (...)
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  • (1 other version)An Artifactual Perspective on Idealization: Constant Capacitance and the Hodgkin and Huxley Model.Natalia Carrillo & Tarja Knuuttila - 2021 - In Alejandro Cassini & Juan Redmond (eds.), Models and Idealizations in Science: Fictional and Artefactual Approaches. Cham: Springer.
    There are two traditions of thinking about idealization offering almost opposite views on their functioning and epistemic status. While one tradition views idealizations as epistemic deficiencies, the other one highlights the epistemic benefits of idealization. Both of these, however, identify idealization with misrepresentation. In this article, we instead approach idealization from the artifactual perspective, comparing it to the distortion-to-reality accounts of idealization, and exemplifying it through the case of the Hodgkin and Huxley model of nerve impulse. From the artifactual perspective, (...)
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  • Robustness analysis and tractability in modeling.Chiara Lisciandra - 2017 - European Journal for Philosophy of Science 7 (1):79-95.
    In the philosophy of science and epistemology literature, robustness analysis has become an umbrella term that refers to a variety of strategies. One of the main purposes of this paper is to argue that different strategies rely on different criteria for justifications. More specifically, I will claim that: i) robustness analysis differs from de-idealization even though the two concepts have often been conflated in the literature; ii) the comparison of different model frameworks requires different justifications than the comparison of models (...)
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  • Modelling as Indirect Representation? The Lotka–Volterra Model Revisited.Tarja Knuuttila & Andrea Loettgers - 2017 - British Journal for the Philosophy of Science 68 (4):1007-1036.
    ABSTRACT Is there something specific about modelling that distinguishes it from many other theoretical endeavours? We consider Michael Weisberg’s thesis that modelling is a form of indirect representation through a close examination of the historical roots of the Lotka–Volterra model. While Weisberg discusses only Volterra’s work, we also study Lotka’s very different design of the Lotka–Volterra model. We will argue that while there are elements of indirect representation in both Volterra’s and Lotka’s modelling approaches, they are largely due to two (...)
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  • Modelos económicos: ¿representaciones aisladas o construcciones ficticias?Leonardo Ivarola - 2015 - Endoxa 35:269.
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  • Isolating Representations Versus Credible Constructions? Economic Modelling in Theory and Practice.Tarja Knuuttila - 2009 - Erkenntnis 70 (1):59-80.
    This paper examines two recent approaches to the nature and functioning of economic models: models as isolating representations and models as credible constructions. The isolationist view conceives of economic models as surrogate systems that isolate some of the causal mechanisms or tendencies of their respective target systems, while the constructionist approach treats them rather like pure constructions or fictional entities that nevertheless license different kinds of inferences. I will argue that whereas the isolationist view is still tied to the representationalist (...)
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  • (1 other version)The philosophy of simulation: hot new issues or same old stew?Roman Frigg & Julian Reiss - 2008 - Synthese 169 (3):593-613.
    Computer simulations are an exciting tool that plays important roles in many scientific disciplines. This has attracted the attention of a number of philosophers of science. The main tenor in this literature is that computer simulations not only constitute interesting and powerful new science , but that they also raise a host of new philosophical issues. The protagonists in this debate claim no less than that simulations call into question our philosophical understanding of scientific ontology, the epistemology and semantics of (...)
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  • (1 other version)The philosophy of simulation: hot new issues or same old stew?Roman Frigg & Julian Reiss - 2011 - Synthese 180 (1):77-77.
    Computer simulations are an exciting tool that plays important roles in many scientific disciplines. This has attracted the attention of a number of philosophers of science. The main tenor in this literature is that computer simulations not only constitute interesting and powerful new science, but that they also raise a host of new philosophical issues. The protagonists in this debate claim no less than that simulations call into question our philosophical understanding of scientific ontology, the epistemology and semantics of models (...)
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  • Modeling and experimenting: The combinatorial strategy in synthetic biology.Tarja Knuuttila & Andrea Loettgers - unknown
    In which respects do modeling and experimenting resemble or differ from each other? We explore this question through studying in detail the combinatorial strategy in synthetic biology whereby scientists triangulate experimentation on model organisms, mathematical modeling, and synthetic modeling. We argue that this combinatorial strategy is due to the characteristic constraints of the three epistemic activities. Moreover, our case study shows that in some cases materiality clearly matters, in fact it provides the very rationale of synthetic modeling. We will show (...)
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  • Model robustness in economics: the admissibility and evaluation of tractability assumptions.Ryan O’Loughlin & Dan Li - 2022 - Synthese 200 (1):1-23.
    Lisciandra poses a challenge for robustness analysis as applied to economic models. She argues that substituting tractability assumptions risks altering the main mathematical structure of the model, thereby preventing the possibility of meaningfully evaluating the same model under different assumptions. In such cases RA is argued to be inapplicable. However, Lisciandra is mistaken to take the goal of RA as keeping the mathematical properties of tractability assumptions intact. Instead, RA really aims to keep the modeling component while varying the corresponding (...)
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  • 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 (...)
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  • Causal isolation robustness analysis: the combinatorial strategy of circadian clock research.Tarja Knuuttila & Andrea Loettgers - 2011 - Biology and Philosophy 26 (5):773-791.
    This paper distinguishes between causal isolation robustness analysis and independent determination robustness analysis and suggests that the triangulation of the results of different epistemic means or activities serves different functions in them. Circadian clock research is presented as a case of causal isolation robustness analysis: in this field researchers made use of the notion of robustness to isolate the assumed mechanism behind the circadian rhythm. However, in contrast to the earlier philosophical case studies on causal isolation robustness analysis (Weisberg and (...)
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  • What is the Problem with Model-based Explanation in Economics?Caterina Marchionni - 2017 - Disputatio 9 (47):603-630.
    The question of whether the idealized models of theoretical economics are explanatory has been the subject of intense philosophical debate. It is sometimes presupposed that either a model provides the actual explanation or it does not provide an explanation at all. Yet, two sets of issues are relevant to the evaluation of model-based explanation: what conditions should a model satisfy in order to count as explanatory and does the model satisfy those conditions. My aim in this paper is to unpack (...)
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  • Isolation Is Not Characteristic of Models.Till Grüne-Yanoff - 2011 - International Studies in the Philosophy of Science 25 (2):119-137.
    Modelling cannot be characterized as isolating, nor models as isolations. This article presents three arguments to that effect, against Uskali Mäki's account of models. First, while isolation proceeds through a process of manipulation and control, modelling typically does not proceed through such a process. Rather, modellers postulate assumptions, without seeking to justify them by reference to a process of isolation. Second, while isolation identifies an isolation base—a concrete environment it seeks to control and manipulate—modelling typically does not identify such a (...)
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