The thesis that in social sciences causal explanations are possible only in terms o mechanisms due to the lack of genuine laws has been increasingly popular among social scientist and philosophers. In this article it is examined whether the explanation by mechanism is necessarily an explanation without laws or, on the contrary, it can involve some kind o laws. To this end it is argued, firstly, that mechanisms are not always the antonym of law insofar as they express propensities and (...) so tendencies; secondly, that these tendencies ar causal and entail capacities and dispositions; thirdly, that capacities and dispositions involve in human behaviour have to face the problem of free will; and finally, reasons are offered i favor of considering causal tendencies as authentic laws. The ultimate aim of this article is to demonstrate that explanation of social facts can involve well-established laws in its explanans although they are not universal laws. (shrink)

This paper argues that even when simple analogue models picture parallel worlds, they generally still serve as isolating tools. But there are serious obstacles that often stop them isolating in just the right way. These are obstacles that face any model that functions as a thought-experiment but they are especially pressing for economic models because of the paucity of economic principles. Because of the paucity of basic principles, economic models are rich in structural assumptions. Without these no interesting conclusions can (...) be drawn. This, however, makes trouble when it comes to exporting conclusions from the model to the world. One uncontroversial constraint on induction from special cases is to beware of extending conclusions to situations that we know are different in relevant respects. In the case of economic models it is clear by inspection that the unrealistic structural assumptions of the model are intensely relevant to the conclusion. Any inductive leap to a real situation seems a bad bet. (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)

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)

This article shows how the MISS account of models—as isolations and surrogate systems—accommodates and elaborates Sugden’s account of models as credible worlds and Hausman’s account of models as explorations. Theoretical models typically isolate by means of idealization, and they are representatives of some target system, which prompts issues of resemblance between the two to arise. Models as representations are constrained both ontologically (by their targets) and pragmatically (by the purposes and audiences of the modeller), and these relations are coordinated by (...) a model commentary. Surrogate models are often about single mechanisms. They are distinguishable from substitute models, which are examined without any concern about their connections with the target. Models as credible worlds are surrogate models that are believed to provide access to their targets on account of their credibility (of which a few senses are distinguished). (shrink)

In recent years, several authors have reconstructed the relationship between 20th-century economic theory and neuro-psychological research in terms of a three-stage narrative of initial unity, increasing separation, and ongoing reunification. In this article, I draw on major developments in economic theory and neuro-psychological research to provide a descriptive and normative critique of this reconstruction. Moreover, I put forward a reconstruction of the relationship between economics and neuro-psychology that, I claim, better fits both the available empirical evidence and the methodological foundations (...) of these disciplines. In doing so, I argue that recent calls to develop a unified interdisciplinary framework for modeling choice are premised on disputable presuppositions concerning both the domain of economic theory and the relationship between this theory’s axiomatic foundations and empirical findings about the neuro-psychological substrates of choice. (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)

In recent years, the emergence of a new trend in contemporary philosophy has been observed in the increasing usage of empirical research methods to conduct philosophical inquiries. Although philosophers primarily use secondary data from other disciplines or apply quantitative methods (experiments, surveys, etc.), the rise of qualitative methods (e.g., in-depth interviews, participant observations and qualitative text analysis) can also be observed. In this paper, I focus on how qualitative research methods can be applied within philosophy of science, namely within the (...) philosophical debate on modeling. Specifically, I review my empirical investigations into the issues of model de-idealization, model justification and performativity. (shrink)

Abstract: The paper argues that mainstream economics and mainstream philosophy of natural science had much in common during the period 1945-1965. It examines seven common features of the two fields and suggests a number of historical developments that might help explain these similarities. The historical developments include: the Vienna Circle connection, the Samuelson-Harvard-Foundations connection, and the Cold War operations research connection.

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)

Over the last decade, neuroeconomic research has attracted increasing attention by economic modellers and methodologists. In this paper, I examine five issues about neuroeconomic modelling and methodology that have recently been subject to considerable controversy. For each issue, I explicate and appraise prominent neuroeconomists' findings, focusing on those that are claimed to directly inform economic theorizing. Moreover, I assess often-made assertions concerning how neuroeconomic research putatively advances the economic modelling of choice. In doing so, I combine review and critical arguments (...) to provide a methodological evaluation of neuroeconomists' contributions. (shrink)

This article examines the issue of whether consideration of so-called minimal models can prompt learning about real-world targets. Using a widely cited example as a test case, it argues against the increasingly popular view that consideration of minimal models can prompt learning about such targets. The article criticizes influential defenses of this view for failing to explicate by virtue of what properties or features minimal models supposedly prompt learning. It then argues that consideration of minimal models cannot prompt learning about (...) real-world targets unless one supplements these models with additional information or presuppositions concerning such targets. (shrink)

The value of rational choice theory for the social sciences has long been contested. It is argued here that, in the debate over its role, it is necessary to distinguish between claims that people maximise manifest payoffs, and claims that people maximise their utility. The former version has been falsified. The latter is unfalsifiable, because utility cannot be observed. In principle, utility maximisation can be adapted to fit any form of behaviour, including the behaviour of non-human organisms. Allegedly 'inconsistent' behaviour (...) is also impossible to establish without qualification. This utility-maximising version of rational choice theory has the character of a universal 'explanation' that can be made to 'fit' any set of events. This is a sign of weakness rather than strength. In its excessive quest for generality, utility-maximising rational choice theory fails to focus on the historically and geographically specific features of socio-economic systems. As long as such theory is confined to ahistorical generalities, then it will remain highly limited in dealing with the real world. Instead we have to consider the real social and psychological determinants of human behaviour. (shrink)

The paper reviews the philosophical literature on the epistemology of modelling in contemporary economics. In particular, it focuses on open questions concerning the epistemic role of models, the validity of inferences from the models to the world, and the legitimacy of their use for purposes of explanation, prediction and intervention.

An otherwise lawlike generalisation hedged by a ceteris paribus (CP) clause qualifies as a law of nature, if the CP clause can be substituted with a set of conditions derived from the multivariate regression model used to interpret the empirical data in support of the gen- eralisation. Three studies in human biology that use regression analysis are surveyed, showing that standard objections to cashing out CP clauses in this way—based on alleged vagueness, vacuity, or lack of testability—do not apply. CP (...) laws also cannot be said to be simply false due to the indefinitely many conditions not explicitly stated in their associated model: scientific CP clauses imply that these are, given the evidence, not nomically relevant. (shrink)

The paper aims to assess whether the ideas developed by Don Ross in his recent book Economic theory and cognitive science: microexplanation, which relates neoclassical economics to recent developments in cognitive science, might revolutionize the methodology of economics. Since Ross challenges a conception of economics associated with what is pejoratively called 'Folk psychology', the paper discusses ideas of the philosopher Daniel Dennett on which this challenge is largely based. This discussion could not avoid bearing on questions such as the nature (...) of consciousness, the interpretation of ontological realism, the relations between agency and selfhood, and the nature and scope of economics. The paper attempts to rehabilitate the two pieces of the traditional conception of economics that were most radically contested by Ross, namely methodological individualism and the foundational role of rationality in economics. A relatively nuanced judgment on Ross's bold enterprise is proposed in conclusion. (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 chapter contains sections titled: Highlights of Past Literature Current Work Future Work.

Many scientific models lack an established representation relation to actual targets and instead refer to merely possible processes, background conditions, and results. This article shows how such models can be appraised. On the basis of the discussion of how-possibly explanations, five types of learning opportunities are distinguished. For each of these types, an example—from economics, biology, psychology, and sociology—is discussed. Contexts and purposes are identified in which the use of a model offers a genuine opportunity to learn. These learning opportunities (...) offer novel justifications for modeling practices that fall between the cracks of standard representationalist appraisals of models. (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)

Este documento analiza las siguientes cuestiones: 1) La metodología de la economía y su actual institucionalización. 2) La definición de Economía. 3) Las perspectivas de los economistas acerca de la Economía, sus métodos y justificación. 4) Comprobación y progreso: Popper y Lakatos.5) Los modelos y sus supuestos. 6) Persuasión retórica y verdad. 7) La Economía como un recurso para la Filosofía de la Ciencia. 8) Expansionismo explicativo y relaciones interdisciplinares.

After a brief survey of the literature on ceteris paribus clauses and ceteris paribus laws (1), the problem of exceptions, which creates the need for cp laws, is discussed (2). It emerges that the so-called skeptical view of laws of nature does not apply to laws of any kind whatever. Only some laws of physics are plagued with exceptions, not THE laws (3). Cp clauses promise a remedy, which has to be located among the further reactions to the skeptical view (...) (4). After inspecting various translations of the Latin term 'ceteris paribus' (5), the paper arrives at the conclusion that, on the most reasonable translation, there are no such things as cp laws, for reasons of logical form. Cp clauses have an indexical content, so that they need singular propositions as their habitat, not general ones. Cp clauses and the universal generalizations they are supposed to modify are not fit for each other (6). (shrink)

This paper examines methodological issues raised by revealed preference theory in economics: particularly contemporary revealed preference theory. The paper has three goals. First, to make the case that revealed preference theory is a broad research program in choice theory—not a single theory—and understanding this diversity is essential to any methodological analysis of the program. Second, to explore some of the existing criticisms of revealed preference theory in a way that emphasizes how the effectiveness of the critique depends on the particular (...) version of revealed preference under consideration. Finally, three additional criticisms are presented that are aimed specifically at contemporary revealed preference theory. (shrink)

Consider how your consumption would change if you were stranded on a deserted island. Isolation would eliminate all social influences on your consumption decisions, even for the same choice set. You might decide not to consume cosmetics, curtains, or neckties, and pay less attention to the style or color of your clothes, car, or furniture. These choices might not matter as much to you anymore, for you would not have to consider the reactions of other individuals to your consumption. Similarly, (...) isolation would also eliminate social influences on your speech. Absent an audience, your choice of words would not be subject to the judgments of others. (shrink)

Most philosophical accounts of the foundations of economics have assumed that economics is intended to be an empirical science concerned with human behaviour, though they have, of course, differed over the extent to which it has been or can be successful as such an enterprise. A prominent source of dissent against this consensus is Alexander Rosenberg. In his recent book, Rosenberg summarizes and completes his statement of a position that he has been developing for some time. He argues that although (...) economists evaluate one another's work according to shared and rigorous standards of adequacy, these standards are strictly internal, like those of mathematics, instead of being derived from discoveries about contingent relationships between theoretical statements and empirical facts. Economics, that is to say, is essentially conceptual rather than empirical inquiry. In the following discussion, I will provide grounds for resisting Rosenberg's conclusion. The point of this criticism, however, is not mainly negative. Most of the historical preoccupations of the philosophy of economics, like those of the philosophy of science in general, have been epistemological. Careful attention to Rosenberg's argument, however, redirects our attention to ontological questions about the objects of economics, and this redirection, I will maintain, is to be welcomed. I will argue that while the majority of philosophers of economics is correct, as against Rosenberg, in regarding economics as an empirical science, the conventional view as to the identity of its empirical objects should be substantially revised under the pressure of Rosenberg's criticisms. My critical analysis of the implications of Rosenberg's work for the ontological commitments of economics is intended to furnish one line of argument towards my own conception of the objects of economics. This conception, which is still preliminary in many respects, will be briefly sketched toward the end of the present paper; a detailed account of it is given in Ross and LaCasse. (shrink)

Over the last few decades, theoretical discussions about metaphors have appeared with increasing frequency in the literature and, during the last fifteen years or so, such discussions have become more and more common in the methodology of economics. But what exactly is a metaphor? According to a tradition which dates back to Aristotle, a metaphor is the attribution to one object, A, of the name of another object, B, while this name or these qualities do not properly or normally belong (...) to A. Thus, a metaphor is present when a term used to describe A is a term which is already commonly used to name B. Defined in such a way, one must admit that metaphors are frequently found in economics as well as in other sciences. Let us consider, for example, a term like ‘elasticity’ which is extensively used by economists. According to the ordinary dictionary definition, this word designates a property of bodies by which they recover their initial form after having been submitted to a pressure; in a less technical sense, it refers to the flexibility of some bodies or to their responsiveness to pressures. (shrink)

Much scientific thinking and thinking about science involves assumptions that there is a deep and pervasive order to the world that it is the business of science to disclose. A paradigmatic statement of such a view can be found in a widely discussed paper by a prominent economist, Milton Friedman (a paper which will be discussed in more detail shortly): A fundamental hypothesis of science is that appearances are deceptive and that there is a way of looking at or interpreting (...) or organizing the evidence that will reveal superficially disconnected and diverse phenomena to be manifestations of a more fundamental and relatively simple structure. (1953/1984, p.231) On the other hand, the person sometimes described as the father of modern science, Francis Bacon, wrote: The human understanding is of its own nature prone to suppose the existence of more order and regularity in the world than it finds. And though there be many things in nature which are singular and unmatched, yet it devises for them conjugates and relatives which do not exist. (1620/1960, p. 50). (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 this short discussion note, I discuss whether any of the generalizations made in biology should be construed as laws. Specifically, I examine a strategy offered by Elliot Sober ( 1997 ) and supported by Mehmet Elgin ( 2006 ) to reformulate certain biological generalizations so as to eliminate their contingency, thereby allowing them to count as laws. I argue that this strategy entails a conception of laws that is unacceptable on two counts: (1) Sober and Elgin’s approach allows the (...) possibility of formulating laws describing any biological phenomenon whatsoever; and (2) on Sober and Elgin’s view, any interesting contrast between so-called laws and obviously accidental generalizations collapses. I conclude by offering suggestions to refine their view in order to avoid these theoretical problems. (shrink)

The practice of social studies continues to be a complicated scientific endeavor. From an epistemological point of view, the social sciences, unlike the natural sciences, do not conform to the predominant definition of science. The existing differences among expositions of “science,” “inquiry,” and “studies” lie with the contested role of the intellectual who is embarked on understanding the social realm. The “maturity” of the social sciences is usually discussed in the context of objectivity and rationality. But continuing epistemological debates would (...) be insufficient without reference to the scholar as a human studying humans. The philosophy of science has focused mainly on the procedures of knowledge accumulation, neglecting social context and its implications for inquiry. To address this neglect, this essay sets out first to retrace doubts about the role of the scholar that emerged with the institutionalization of the social sciences at the outset of the twentieth century and then to rethink these issues in terms of recent scientific developments. What surfaces is a new, participatory role for scholars that demands responsible contextualization and a broader conception of causal stories. (shrink)

Many models in economics are very unrealistic. At the same time, economists put a lot of effort into making their models more realistic. I argue that in many cases, including the Modigliani-Miller irrelevance theorem investigated in this paper, the purpose of this process of concretization is explanatory. When evaluated in combination with their assumptions, a highly unrealistic model may well be true. The purpose of relaxing an unrealistic assumption, then, need not be to move from a false model to a (...) true one. Instead, it may be providing an explanation of some phenomenon by invoking the factor that figures in the assumption. This idea is developed in terms of the contrastive account of explanation. It is argued that economists use highly unrealistic assumptions to determine a contrast that is worth explaining. The process of concretization also motivates new explanatory questions. A high degree of explanatory power, then, may well be due to a high number of unrealistic assumptions. Thus, highly unrealistic models can be powerful explanatory engines. Key Words: concretization • explanation • explanatory power • idealization • model • Modigliani-Miller theorem • unrealistic assumption. (shrink)

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 (...) and also the view that economics, when successful, necessarily follows this method. When economics licenses successful policy interventions, as it did in the case of the Federal Communications Commission spectrum auctions, its method is not to study tendencies but rather to study the phenomenon as a whole. Key Words: economic models • tendencies • economic experiments • policy making • John Stuart Mill. (shrink)

Rational choice theory enjoys unprecedented popularity and influence in the behavioral and social sciences, but it generates intractable problems when applied to socially interactive decisions. In individual decisions, instrumental rationality is defined in terms of expected utility maximization. This becomes problematic in interactive decisions, when individuals have only partial control over the outcomes, because expected utility maximization is undefined in the absence of assumptions about how the other participants will behave. Game theory therefore incorporates not only rationality but also common (...) knowledge assumptions, enabling players to anticipate their co-players' strategies. Under these assumptions, disparate anomalies emerge. Instrumental rationality, conventionally interpreted, fails to explain intuitively obvious features of human interaction, yields predictions starkly at variance with experimental findings, and breaks down completely in certain cases. In particular, focal point selection in pure coordination games is inexplicable, though it is easily achieved in practice; the intuitively compelling payoff-dominance principle lacks rational justification; rationality in social dilemmas is self-defeating; a key solution concept for cooperative coalition games is frequently inapplicable; and rational choice in certain sequential games generates contradictions. In experiments, human players behave more cooperatively and receive higher payoffs than strict rationality would permit. Orthodox conceptions of rationality are evidently internally deficient and inadequate for explaining human interaction. Psychological game theory, based on nonstandard assumptions, is required to solve these problems, and some suggestions along these lines have already been put forward. Key Words: backward induction; Centipede game; common knowledge; cooperation; epistemic reasoning; game theory; payoff dominance; pure coordination game; rational choice theory; social dilemma. (shrink)

The dominant view among macroeconomists is that macroeconomics reduces to microeconomics, both in the sense that all macroeconomic phenomena arise out of microeconomic phenomena and in the sense that macroeconomic theory—to the extent that it is correct—can be derived from microeconomic theory. More than that, the dominant view believes that macroeconomics should in practice use the reduced microeconomic theory: this is the program of microfoundations for macroeconomics to which the vast majority of macroeconomists adhere. The "microfoundational" models that they actually (...) employ are, however, characterized by another feature: they are highly idealized, even when they are applied as direct characterizations of actual data, which itself consists of macroeconomic aggregates. This paper explores the interrelationship between reductionism and idealization in the microfoundational program and the role of idealization in empirical modeling. (shrink)

Orthodox Bayesian decision theory requires an agent’s beliefs representable by a real-valued function, ideally a probability function. Many theorists have argued this is too restrictive; it can be perfectly reasonable to have indeterminate degrees of belief. So doxastic states are ideally representable by a set of probability functions. One consequence of this is that the expected value of a gamble will be imprecise. This paper looks at the attempts to extend Bayesian decision theory to deal with such cases, and concludes (...) that all proposals advanced thus far have been incoherent. A more modest, but coherent, alternative is proposed. Keywords: Imprecise probabilities, Arrow’s theorem. (shrink)

This is a comprehensive anthology of works concerning the nature of economics as a science, including classic texts and essays exploring specific branches and schools of economics. Apart from the classics, most of the selections in the third edition are new, as are the introduction and bibliography. No other anthology spans the whole field and offers a comprehensive introduction to questions about economic methodology.

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)

Like other mathematically intensive sciences, economics is becoming increasingly computerized. Despite the extent of the computation, however, there is very little true simulation. Simple computation is a form of theory articulation, whereas true simulation is analogous to an experimental procedure. Successful computation is faithful to an underlying mathematical model, whereas successful simulation directly mimics a process or a system. The computer is seen as a legitimate tool in economics only when traditional analytical solutions cannot be derived, i.e., only as a (...) purely computational aid. We argue that true simulation is seldom practiced because it does not fit the conception of understanding inherent in mainstream economics. According to this conception, understanding is constituted by analytical derivation from a set of fundamental economic axioms. We articulate this conception using the concept of economists' perfect model. Since the deductive links between the assumptions and the consequences are not transparent in ‘bottom‐up’ generative microsimulations, microsimulations cannot correspond to the perfect model and economists do not therefore consider them viable candidates for generating theories that enhance economic understanding. (shrink)

This paper investigates the possibilities and problems of benchmarking Corporate Social Responsibility (CSR). After a methodological analysis of the advantages and problems of benchmarking, we develop a benchmark method that includes economic, social and environmental aspects as well as national and international aspects of CSR. The overall benchmark is based on a weighted average of these aspects. The weights are based on the opinions of companies and NGO's. Using different methods of weighting, we find that the outcome of the benchmark (...) is rather robust for a sample of more than 50 large Dutch companies. (shrink)

This paper consists of four parts. Part 1 is an introduction. Part 2 evaluates arguments for the claim that there are no strict empirical laws in biology. I argue that there are two types of arguments for this claim and they are as follows: (1) Biological properties are multiply realized and they require complex processes. For this reason, it is almost impossible to formulate strict empirical laws in biology. (2) Generalizations in biology hold contingently but laws go beyond describing contingencies, (...) so there cannot be strict laws in biology. I argue that both types of arguments fail. Part 3 considers some examples of biological laws in recent biological research and argues that they exemplify strict laws in biology. Part 4 considers the objection that the examples in part 3 may be strict laws but they are not distinctively biological laws. I argue that given a plausible account of what distinctively biological means, such laws are distinctively biological. (shrink)

Contemporary developments in economicmethodology have produced a vibrant agenda ofcompeting positions. These include, amongothers, constructivism, critical realism andrhetoric, with each contributing to the Realistvs. Pragmatism debate in the philosophies of thesocial sciences. A major development in theneo-pragmatist contribution to economicmethodology has been Quine's pragmatic assaulton the dogmas of empiricism, which are nowclearly acknowledged within contemporaryeconomic methodology. This assault isencapsulated in the celebrated Duhem-Quinethesis, which according to a number ofcontemporary leading philosophers of economics,poses a particularly serious methodologicalproblem for economics. This problem, (...) asreflected in Hausman's analysis, consists ofthe inability of economics to learn fromexperience, thereby subverting the capacity totest economic theories. In this paper wedispute this position. Our argument is basedon a combination of Quine's holism with VanFraassen's constructive empiricism, especiallythe latter's analysis of empirical adequacy andhis pragmatic approach to explanation. Theresulting reorientation of economic methodologyrestores the capacity of economics to learnfrom experience and reinstates the imperativeof developing alternatives to orthodoxtheorizing in economics. (shrink)

From Plato to the present day, political theorists have used models of idealistic societies to think about politics. How can these idealistic models inform our thinking about political life in our non-ideal world? Not, as many political theorists have hoped, by providing normative guidance -- by showing us how things should be or where we should go. Even still, we can use these models to interpret the concepts we depend on to explain and evaluate political behavior and institutions, thereby sharpening (...) our explanations of how things work and our estimations of how to make things better. Seeing idealistic models in this light reveals a promising route to a form of political inquiry that integrates our explanatory aims and our normative aspirations. -/- (Updated: October 2024. The book is in production for publication by Oxford University Press, to appear in the Philosophy, Politics, and Economics series. I have uploaded the table of contents, chapter 1, and the bibliography.). (shrink)

This dissertation looks at a set of interconnected questions concerning the foundations of probability, and gives a series of interconnected answers. At its core is a piece of old-fashioned philosophical analysis, working out what probability is. Or equivalently, investigating the semantic question of what is the meaning of ‘probability’? Like Keynes and Carnap, I say that probability is degree of reasonable belief. This immediately raises an epistemological question, which degrees count as reasonable? To solve that in its full generality would (...) mean the end of human inquiry, so that won’t be attempted here. Rather I will follow tradition and merely investigate which sets of partial beliefs are coherent. -/- The standard answer to this question, what is commonly called the Bayesian answer, says that degrees of belief are coherent iff they form a probability function. I disagree with the way this is usually justified, but subject to an important qualification I accept the answer. The important qualification is that degrees of belief may be imprecise, or vague. Part one of the dissertation, chapters 1 to 6, looks largely at the consequences of this qualification for the semantic and epistemological questions already mentioned. It turns out that when we allow degrees of belief to be imprecise, we can discharge potentially fatal objections to some philosophically attractive theses. Two of these, that probability is degree of reasonable belief and that the probability calculus provides coherence constraints on partial beliefs, have been mentioned. Others include the claim, defended in chapter 4, that chance is probability given total history. -/- As well as these semantic and epistemological questions, studies of the foundations of probability usually include a detailed discussion of decision theory. For reasons set out in chapter 2, I deny we can gain epistemological insights from decision theory. Nevertheless, it is an interesting field to study on its own, and it might be expected that there would be decision theoretic consequences of allowing imprecise degrees of belief. As I show in part two, this expectation seems to be mistaken. Chapter 9 shows that there aren’t interesting consequences of this theory for decision theory proper, and chapters 10 and 11 show that Keynes’s attempt to use imprecision in degrees of belief to derive a distinctive theory of interest rates is unsound. -/- Chapters 7 and 8 provide a link between these two parts. In chapter 7 I look at some previous philosophical investigations into the effects of imprecision. In chapter 8 I develop what I take to be the best competitor to the theory defended here – a constructivist theory of probability. On this view degrees of belief are precise, but the relevant coherence constraint is a constructivist probability calculus. This view is, I think, mistaken, but the calculus has some intrinsic interest, and there are at least enough arguments for it to warrant a chapter-length examination. (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)

From the mid-1960s until the late 1980s, the well-known general philosophies of science of the time were applied to economics. The result was disappointing: none seemed to fit. This paper argues that this is due to a special feature of economics: it possesses ‘orientational paradigms’ in high number. Orientational paradigms are similar to Kuhn’s paradigms in that they are shared across scientific communities, but dissimilar to Kuhn’s paradigms in that they are not generally accepted as valid guidelines for further research. (...) As will be shown by several examples, orientational paradigms provide economics with common points of reference that support its epistemic coherence and make scientific discourse more easily possible across school boundaries. With the help of systematicity theory, a newer general philosophy of science, one can further elucidate the role of orientational paradigms with regard to scientific progress. (shrink)