The paper seeks to offer [1] an explication of a concept of economics imperialism, focusing on its epistemic aspects; and [2] criteria for its normative assessment. In regard to [1], the defining notion is that of explanatory unification across disciplinary boundaries. As to [2], three kinds of constraints are proposed. An ontological constraint requires an increased degree of ontological unification in contrast to mere derivational unification. An axiological constraint derives from variation in the perceived relative significance of the facts explained. (...) An epistemological constraint requires strong fallibilism acknowledging a particularly severe epistemic uncertainty and proscribing against over-confident arrogance. (shrink)

Within the social sciences, much controversy exists about which status should be ascribed to the rationality assumption that forms the core of rational choice theories. Whilst realists argue that the rationality assumption is an empirical claim which describes real processes that cause individual action, instrumentalists maintain that it amounts to nothing more than an analytically set axiom or ‘as if’ hypothesis which helps in the generation of accurate predictions. In this paper, I argue that this realist-instrumentalist debate about rational choice (...) theory can be overcome once it is realised that the rationality assumption is neither an empirical description nor an ‘as if’ hypothesis, but a normative claim. (shrink)

Because they contain idealizations, scientific models are often considered to be misrepresentations of their target systems. An important question is therefore how models can explain the behaviours of these systems. Most of the answers to this question are representationalist in nature. Proponents of this view are generally committed to the claim that models are explanatory if they represent their target systems to some degree of accuracy; in other words, they try to determine the conditions under which idealizations can be made (...) without jeopardizing the representational function of models. In this article, we first outline several forms of this representationalist view. We then argue that this view, in each of these forms, omits an important role of idealizations: that of facilitating the identification of the explanatory components within a model. Via examination of a case study from contemporary astrophysics, we show that one way in which idealizations can do this is by creating a comparison case that s... (shrink)

In robustness analysis, hypotheses are supported to the extent that a result proves robust, and a result is robust to the extent that we detect it in diverse ways. But what precise sense of diversity is at work here? In this paper, I show that the formal explications of evidential diversity most often appealed to in work on robustness – which all draw in one way or another on probabilistic independence – fail to shed light on the notion of diversity (...) relevant to robustness analysis. I close by briefly outlining a promising alternative approach inspired by Horwich’s (1982) eliminative account of evidential diversity. (shrink)

In this paper, I review the literature on rational choice theory to scrutinize a number of criticisms that philosophers have voiced against its usefulness in economics. The paper has three goals: first, I argue that the debates about RCT have been characterized by disunity and confusion about the object under scrutiny, which calls into question the effectiveness of those criticisms. Second, I argue that RCT is not a single and unified choice theory—let alone an empirical theory of human behavior—as some (...) critics seem to suppose. Rather, there are several variants of RCT used in economics. Third, I propose that we think of RCT as a set of distinct research strategies to appreciate its diversity. This account implies that the effectiveness of any criticism depends on the variant of RCT we are considering. (shrink)

In this paper, I first argue against various attempts to justify idealizations in scientific models that explain by showing that they are harmless and isolable distortions of irrelevant features. In response, I propose a view in which idealized models are characterized as providing holistically distorted representations of their target system. I then suggest an alternative way that idealized modeling can be justified by appealing to universality.

This paper supports the literature which argues that derivational robustness can have epistemic import in highly idealized economic models. The defense is based on a particular example from mathematical economic theory, the dynamic Walrasian general equilibrium model. It is argued that derivational robustness first increased and later decreased the credibility of the Walrasian model. The example demonstrates that derivational robustness correctly describes the practices of a particular group of influential economic theorists and provides support for the arguments of philosophers who (...) have offered a general epistemic justification of such practices. (shrink)

Within the modeling literature, there is often an implicit assumption about the relationship between a given model and a scientific explanation. The goal of this article is to provide a unified framework with which to analyze the myriad relationships between a model and an explanation. Our framework distinguishes two fundamental kinds of relationships. The first is metaphysical, where the model is identified as an explanation or as a partial explanation. The second is epistemological, where the model produces understanding that is (...) related to the explanation of interest. Our analysis reveals that the epistemological relationships are not always dependent on the metaphysical relationships, contrary to what has been assumed by many philosophers of science. Moreover, we identify several importantly different ways that scientific models instantiate these relationships. We argue that our framework provides novel insights concerning the nature of models, explanation, idealization, and understanding. (shrink)

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 (...) which idealisations are truly harmful. (shrink)

This article argues that evolutionary models based on selection validate, under appropriate conditions, the relevance of optimality as an explanatory mechanism in rational choice theory. The reason is that these frameworks share the mechanism that drives the results, namely, optimization, even if they situate it at different levels. The consequences of our argument are twofold. First, it resolves the tension between those predictions of rational choice theory that are accurate and the evidence showing that individuals seldom optimize. Second, it relativizes (...) the explanatory import of rationality without diminishing the role of optimization as a mechanism. (shrink)

The debates of the 1980s and 1990s on methodological individualism versus methodological holism have not been adequately resolved. Within analytical Marxism, G.A. Cohen, John Roemer, Jon Elster and others have come down in favour of methodological individualism as part of the effort to make analytical Marxism more 'scientific' and 'rigorous' than earlier versions of Marxism. In doing so they have presented methodological individualism as a necessary ingredient in ridding Marxism of obscurantism. This view is here challenged from a pragmatist philosophical (...) perspective. It is argued that, from such a perspective, the debates between the individualists and holists should have been dissolved rather than resolved in favour of the individualists. It is suggested that such dissolution would even strengthen analytical Marxism by redirecting analytical energies towards real social and political problems in the contemporary world and away from endless methodological debate. (shrink)

Although there has been much recent discussion on mechanisms in philosophy of science and social theory, no shared understanding of the crucial concept itself has emerged. In this paper, a distinction between two core concepts of mechanism is made on the basis that the concepts correspond to two different research strategies: the concept of mechanism as a componential causal system is associated with the heuristic of functional decomposition and spatial localization and the concept of mechanism as an abstract form of (...) interaction is associated with the strategy of abstraction and simple models. The causal facts assumed and the theoretical consequences entailed by an explanation with a given mechanism differ according to which concept of mechanism is in use. Research strategies associated with mechanism concepts also involve characteristic biases that should be taken into account when using them, especially in new areas of application. (shrink)

In this paper we examine the epistemic value of highly idealized agent-based models of social aspects of scientific inquiry. On the one hand, we argue that taking the results of such simulations as informative of actual scientific inquiry is unwarranted, at least for the class of models proposed in recent literature. Moreover, we argue that a weaker approach, which takes these models as providing only “how-possibly” explanations, does not help to improve their epistemic value. On the other hand, we suggest (...) that if ABMs of science underwent two types of robustness analysis, they could indeed have a clear epistemic function, namely by providing evidence for philosophical and historical hypotheses. In this sense, ABMs can obtain evidential and explanatory properties and thus be a useful tool for integrated history and philosophy of science. We illustrate our point with an example of a model—building on the work by Kevin Zollman—which we apply to a concrete historical case study. (shrink)

It is hard to overstate the growing impact of the works of Andreas Reckwitz and Hartmut Rosa on contemporary social theory. Given the quality and originality of their intellectual contributions, it is no accident that they can be regarded as two towering figures of contemporary German social theory. The far-reaching significance of their respective approaches is reflected not only in their numerous publications but also in the fast-evolving secondary literature engaging with their writings. All of this should be reason enough (...) to take note of their collaborative work, which, most recently, has culminated in the publication of their co-authored book Spätmoderne in der Krise: Was leistet die Gesellschaftstheorie? (Berlin: Suhrkamp, 2021). The main purpose of this paper is to demonstrate that the latest exchange between Reckwitz and Rosa contains valuable insights into recent and ongoing trends in society in general and social theory in particular. The first part comprises an outline of the central matters at stake in, and the core lessons learnt from, the constructive dialogue between Reckwitz’s critical analytics and Rosa’s critical theory, before moving, in the second part, to an assessment of the most significant limitations of their respective views and propositions. (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)

I introduce a case study from organization studies to argue that social epistemologists’ recommendation to cultivate diversity and dissent in science is unlikely to be welcomed in the social sciences unless it is coupled with another epistemic ideal: the norm of epistemic responsibility. The norm of epistemic responsibility enables me to show that organization scholars’ concern with the fragmentation of their discipline is generated by false assumptions: the assumption that a diversity of theoretical approaches will lead to fragmentation and the (...) assumption that an imposed consensus on a theoretical approach is needed to maintain the unity of the discipline. (shrink)

Biologists and economists use models to study complex systems. This similarity between these disciplines has led to an interesting development: the borrowing of various components of model-based theorizing between the two domains. A major recent example of this strategy is economists’ utilization of the resources of evolutionary biology in order to construct models of economic systems. This general strategy has come to be called evolutionary economics and has been a source of much debate among economists. Although philosophers have developed literatures (...) on the nature of models and modeling, the unique issues surrounding this kind of interdisciplinary model building have yet to be independently investigated. In this paper, we utilize evolutionary economics as a case study in the investigation of more general issues concerning interdisciplinary modeling. We begin by critiquing the distinctions currently used within the evolutionary economics literature and propose an alternative carving of the conceptual terrain. We then argue that the three types of evolutionary economics we distinguish capture distinctions that will be important whenever resources of model-based theorizing are borrowed across distinct scientific domains. Our analysis of these model-building strategies identifies several of the unique methodological and philosophical issues that confront interdisciplinary modeling. (shrink)

Proponents of neuroeconomics often argue that better knowledge of the human neural architecture enables economists to improve standard models of choice. In their view, these improvements provide compelling reasons to use neural findings in constructing and evaluating economic models. In a recent article, I criticized this view by pointing to the trade-offs between the modeling desiderata valued by neuroeconomists and other economists, respectively. The present article complements my earlier critique by focusing on three modeling desiderata that figure prominently in economic (...) and neuroeconomic modeling. For each desideratum, I examine findings that neuroeconomists deem to be especially relevant for economists and argue that neuroeconomists have failed to substantiate their calls to use these findings in constructing and evaluating economic models. In doing so, I identify methodological and evidential constraints that will continue to hinder neuroeconomists’ attempts to improve such models. Moreover, I draw on the literature on scientific modeling to advance the ongoing philosophical discussion regarding the prospects of interdisciplinary models of choice. (shrink)

Political science and economic science . . . make use of the same language, the same mode of abstraction, the same instruments of thought and the same method of reasoning. (Black 1998, 354) Proponents as well as opponents of economics imperialism agree that imperialism is a matter of unification; providing a unified framework for social scientific analysis. Uskali Mäki distinguishes between derivational and ontological unification and argues that the latter should serve as a constraint for the former. We explore whether, (...) in the case of rational-choice political science, self-interested behavior can be seen as a common causal element and solution concepts as the common derivational element, and whether the former constraints the use of the latter. We find that this is not the case. Instead, what is common to economics and rational-choice political science is a set of research heuristics and a focus on institutions with similar structures and forms of organization. (shrink)

La filosofía estándar de la economía presupone que en el dominio de los fenómenos económicos subyacen regularidades estables, las cuales pueden explicarse mediante el funcionamiento de mecanismos o de máquinas socioeconómicas. Asimismo, se considera que una vez puestos en funcionamiento, su comportamiento no necesita de subsecuentes intervenciones. Esto implica asumir que los procesos socioeconómicos tienen una naturaleza semejante a los de las ciencias naturales. No obstante, dichas regularidades son por lo general examinadas a la luz de algún modelo económico, por (...) lo cual pierden muchas veces contacto con el mundo real. Este trabajo tiene como objetivo poner en el centro del análisis otro objeto de estudio: los procesos económicos basados en expectativas. Se trata de procesos en los cuales la acción humana funciona como nexo causal entre las variables económicas y en los que dicha acción es producto de una formación previa de expectativas, las cuales son sensibles a la información del contexto. Se mostrará que en esta clase de procesos la intervención sistemática sobre las condiciones de fondo y sobre las expectativas es fundamental si lo que se busca es alcanzar un objetivo deseado o lograr un proceso estable. Esta intervención requerirá no solo del conocimiento proporcionado por los modelos, sino también de un conocimiento extrateorético o interdisciplinario. Mainstream philosophy of economics assumes that steady regularities underlie the domain of economic phenomena which can be explained by the operation of mechanisms or socioeconomic machines. It is also considered that once operating those mechanisms don't need further interventions. This implies the assumption that the nature of socioeconomic processes is similar to the one of the natural sciences. Nevertheless, such regularities are usually examined in the light of some economic model, which often ends up losing contact with the real world. The present paper aims at putting in the center of the analysis another object of study: the economic processes based on expectations. In these processes the human action operates as a causal link between economic variables; such an action being the result of a previous building of expectations which are sensitive to the information of the context. It will be shown that the systematic intervention on the background conditions and expectations is fundamental in this kind of processes if what is sought is fulfilling a desired goal or managing a stable process. That intervention will not only require the knowledge provided by models but also an extra-theoretical or interdisciplinary knowledge. (shrink)

This paper gives a philosophical outline of the importance of plausible ontologies in the social sciences and argues how mechanisms and processes should be placed as the foundation in the social world. The argumentation is mainly based on a critical appraisal of the use of mechanisms and processes in the works of Norbert Elias, Charles Tilly, and Jon Elster. I start by elaborating on how inquiries of scientific interest evolve to shed light on cases, facts and the things that constitute (...) such facts, whilst the actual explanation demands the description of mechanisms and processes. Basically, focusing on variation and difference making is not sufficient to sustain claims of ontological plausibility and reasonableness. It is thus pointed out how the practices and proceedings of the social sciences can be ontologically enhanced by embracing the complementary roles of mechanisms plus processes together with difference making, as is performed in a special science such as biology, as well as is informally but promisingly pursued in the works of the discussed social scientists. While discussing their work, it is also argued that we should differentiate between processes and mechanisms in order to formalize this approach, which highlights the role of technologies and institutions as prime building blocks for social explanation. I conclude by presenting a claim that in taking seriously that the purported relations between beings and entities need to make discursive sense and historical sense, the social sciences will increase our cognitive success about the things of the world. (shrink)