Scientific models invariably involve some degree of idealization, abstraction, or nationalization of their target system. Nonetheless, I argue that there are circumstances under which such false models can offer genuine scientific explanations. After reviewing three different proposals in the literature for how models can explain, I shall introduce a more general account of what I call model explanations, which specify the conditions under which models can be counted as explanatory. I shall illustrate this new framework by applying it to the (...) case of Bohr's model of the atom, and conclude by drawing some distinctions between phenomenological models, explanatory models, and fictional models. (shrink)

Every Thing Must Go aruges that the only kind of metaphysics that can contribute to objective knowledge is one based specifically on contemporary science as it ...

There is an increasingly widespread belief, both within and outside the discipline, that modern economics is irrelevant to the understanding of the real world. Economics and Reality traces this irrelevance to the failure of economists to match their methods with their subject, showing that formal, mathematical models are unsuitable to the social realities economists purport to address. Tony Lawson examines the various ways in which mainstream economics is rooted in positivist philosophy and examines the problems this causes. It focuses on (...) human agency, social structure and their interaction and explores how the understanding of this social phenomena can be used to transform the nature of economic practice. Economics and Reality concludes by showing how this newly transformed economics might set about shaping economic policy. (shrink)

This cutting edge collection of new and previously published articles by philosophers and social scientists addresses just what it means to invoke causal ...

During the last three decades, reflections on the growth of scientific knowledge have inspired historians, sociologists, and some philosophers to contend that scientific objectivity is a myth. In this book, Kitcher attempts to resurrect the notions of objectivity and progress in science by identifying both the limitations of idealized treatments of growth of knowledge and the overreactions to philosophical idealizations. Recognizing that science is done not by logically omniscient subjects working in isolation, but by people with a variety of personal (...) and social interests, who cooperate and compete with one another, he argues that, nonetheless, we may conceive the growth of science as a process in which both our vision of nature and our ways of learning more about nature improve. Offering a detailed picture of the advancement of science, he sets a new agenda for the philosophy of science and for other "science studies" disciplines. (shrink)

Ever since David Hume, empiricists have barred powers and capacities from nature. In this book Cartwright argues that capacities are essential in our scientific world, and, contrary to empiricist orthodoxy, that they can meet sufficiently strict demands for testability. Econometrics is one discipline where probabilities are used to measure causal capacities, and the technology of modern physics provides several examples of testing capacities (such as lasers). Cartwright concludes by applying the lessons of the book about capacities and probabilities to the (...) explanation of the role of causality in quantum mechanics. (shrink)

Nancy Cartwright (1983, 1999) argues that (1) the fundamental laws of physics are true when and only when appropriate ceteris paribus modifiers are attached and that (2) ceteris paribus modifiers describe conditions that are almost never satisfied. She concludes that when the fundamental laws of physics are true, they don't apply in the real world, but only in highly idealized counterfactual situations. In this paper, we argue that (1) and (2) together with an assumption about contraposition entail the opposite conclusion (...) — that the fundamental laws of physics do apply in the real world. Cartwright extracts from her thesis about the inapplicability of fundamental laws the conclusion that they cannot figure in covering-law explanations. We construct a different argument for a related conclusion — that forward-directed idealized dynamical laws cannot provide covering-law explanations that are causal. This argument is neutral on whether the assumption about contraposition is true. We then discuss Cartwright's simulacrum account of explanation, which seeks to describe how idealized laws can be explanatory. (shrink)

La autora presenta algunas criticas generales al proyecto de reducir las leyes causales a probabilidades. Además, muestra que las leyes causales son imprescindibles para poder diferenciar las strategias efectivas de las que no lo son y da un criterio para considerar cuando podemos deducir causalidad a través de datos estadísticos.

The Oxford Handbook of Philosophy of Economics is a reference work on philosophical issues in the practice of economics. It is motivated by the view that there is more to economics than general equilibrium theory, and that the philosophy of economics should reflect the diversity of activities and topics that currently occupy economists. Contributions in the book are thus closely tied to on-going theoretical and empirical concerns in economics. Contributors include both philosophers of science and economists. Articles fall into three (...) general categories: received views in philosophy of economics, on-going controversies in microeconomics, and issues in modeling, macroeconomics, and development. Specific topics include methodology, game theory, experimental economics, behavioral economics, neuroeconomics, computational economics, data mining, interpersonal comparisons of utility, measurement of welfare and well-being, growth theory and development, and microfoundations of macroeconomics. (shrink)

This book argues that the only kind of metaphysics that can contribute to objective knowledge is one based specifically on contemporary science as it really is, and not on philosophers' a priori intuitions, common sense, or simplifications of science. In addition to showing how recent metaphysics has drifted away from connection with all other serious scholarly inquiry as a result of not heeding this restriction, this book demonstrates how to build a metaphysics compatible with current fundamental physics, which, when combined (...) with metaphysics of the special sciences, can be used to unify physics with the other sciences without reducing these sciences to physics itself. Taking science metaphysically seriously, this book argues, means that metaphysicians must abandon the picture of the world as composed of self-subsistent individual objects, and the paradigm of causation as the collision of such objects. The text assesses the role of information theory and complex systems theory in attempts to explain the relationship between the special sciences and physics, treading a middle road between the grand synthesis of thermodynamics and information, and eliminativism about information. The consequences of the books' metaphysical theory for central issues in the philosophy of science are explored, including the implications for the realism versus empiricism debate, the role of causation in scientific explanations, the nature of causation and laws, the status of abstract and virtual objects, and the objective reality of natural kinds. (shrink)

This essay attempts to distinguish the pressing issues for economists and economic methodologists concerning realism in economics from those issues that are of comparatively slight importance. In particular I shall argue that issues concerning the goals of science are of considerable interest in economics, unlike issues concerning the evidence for claims about unobservables, which have comparatively little relevance. In making this argument, this essay raises doubts about the two programs in contemporary economic methodology that raise the banner of realism. In (...) particular I argue that the banner makes it more difficult to relate the concerns of those who wave it to those of other methodologists. Although this essay argues that many of the debates in this century between scientific realists and their opponents are not relevant to economics, it does not attack scientific realism, and it does not urge economists or economic methodologists to reject it. (shrink)

The intuition of the naı¨ve realist, miracle arguments notwithstanding, is countered forcefully by a host of considerations, including the possibility of underdetermination, and criticisms of abductive inferences to explanatory hypotheses. Some have suggested that an induction may be performed, from the perspective of present theories, on their predecessors. Past theories are thought to be false, strictly speaking; it is thus likely that present-day theories are also false, and will be taken as such at an appropriate future time.

Models as Mediators discusses the ways in which models function in modern science, particularly in the fields of physics and economics. Models play a variety of roles in the sciences: they are used in the development, exploration and application of theories and in measurement methods. They also provide instruments for using scientific concepts and principles to intervene in the world. The editors provide a framework which covers the construction and function of scientific models, and explore the ways in which they (...) enable us to learn about both theories and the world. The contributors to the volume offer their own individual theoretical perspectives to cover a wide range of examples of modelling, from physics, economics and chemistry. These papers provide ideal case-study material for understanding both the concepts and typical elements of modelling, using analytical approaches from the philosophy and history of science. (shrink)

Simple Heuristics That Make Us Smart invites readers to embark on a new journey into a land of rationality that differs from the familiar territory of cognitive science and economics. Traditional views of rationality tend to see decision makers as possessing superhuman powers of reason, limitless knowledge, and all of eternity in which to ponder choices. To understand decisions in the real world, we need a different, more psychologically plausible notion of rationality, and this book provides it. It is about (...) fast and frugal heuristics--simple rules for making decisions when time is pressing and deep thought an unaffordable luxury. These heuristics can enable both living organisms and artificial systems to make smart choices, classifications, and predictions by employing bounded rationality. But when and how can such fast and frugal heuristics work? Can judgments based simply on one good reason be as accurate as those based on many reasons? Could less knowledge even lead to systematically better predictions than more knowledge? Simple Heuristics explores these questions, developing computational models of heuristics and testing them through experiments and analyses. It shows how fast and frugal heuristics can produce adaptive decisions in situations as varied as choosing a mate, dividing resources among offspring, predicting high school drop out rates, and playing the stock market. As an interdisciplinary work that is both useful and engaging, this book will appeal to a wide audience. It is ideal for researchers in cognitive psychology, evolutionary psychology, and cognitive science, as well as in economics and artificial intelligence. It will also inspire anyone interested in simply making good decisions. (shrink)

Scientific realism is the view that our best scientific theories give approximately true descriptions of both observable and unobservable aspects of a mind-independent world. Debates between realists and their critics are at the very heart of the philosophy of science. Anjan Chakravartty traces the contemporary evolution of realism by examining the most promising strategies adopted by its proponents in response to the forceful challenges of antirealist sceptics, resulting in a positive proposal for scientific realism today. He examines the core principles (...) of the realist position, and sheds light on topics including the varieties of metaphysical commitment required, and the nature of the conflict between realism and its empiricist rivals. By illuminating the connections between realist interpretations of scientific knowledge and the metaphysical foundations supporting them, his book offers a compelling vision of how realism can provide an internally consistent and coherent account of scientific knowledge. (shrink)

The axiological tenet of scientific realism, “science seeks true theories,” is generally taken to rest on a corollary epistemological tenet, “we can justifiably believe that our successful theories achieve (or approximate) that aim.” While important debates have centered on, and have led to the refinement of, the epistemological tenet, the axiological tenet has suffered from neglect. I offer what I consider to be needed refinements to the axiological postulate. After showing an intimate relation between the refined postulate and ten theoretical (...) desiderata, I argue that the axiological postulate does not depend on its epistemological counterpart; epistemic humility can accompany us in the quest for truth. Upon contrasting my axiological postulate against the two dominant non-realist alternatives and the standard realist postulate, I contend that its explanatory and justificatory virtues render it, among the axiologies considered, the richest account of the scientific enterprise. (shrink)

What is the correct concept behind measures of inflation? Does money cause business activity or is it the other way around? Shall we stimulate growth by raising aggregate demand or rather by lowering taxes and thereby providing incentives to produce? Policy-relevant questions such as these are of immediate and obvious importance to the welfare of societies. The standard approach in dealing with them is to build a model, based on economic theory, answer the question for the model world and then (...) apply the results to economic phenomena outside. Data come in, if at all, only in testing a limited number of the model's consequences. Despite some critical voices, economic methodology too has by and large subscribed to a "theory first" approach to applied economics. Error in Economics systematically develops an alternative to the theory-based orthodoxy. It places the methodical study of evidence at the centre of the scientific enterprise and thus provides a foundation for a methodology of evidence-based economics. But the book does not stop at the truism that claims should be based on the best available evidence. Rather, detailed studies in the areas of measurement, causal inference and policy analysis show what it means for a claim to be evidence-based in the context of a concrete case. The examples discussed concern topics as diverse as consumer price indices, radio spectrum auctions, the transmission mechanism, natural experiments on minimum wages and the evaluation of counterfactuals for policy. Error in Economics is essential reading for economic methodologists, philosophers of science and anyone interested in how claims about socio-economic matters are validated. (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)

ABSTRACT Economists not only failed to anticipate the financial crisis; they may have contributed to it—with risk and derivatives models that, through spurious precision and untested theoretical assumptions, encouraged policy makers and market participants to see more stability and risk sharing than was actually present. Moreover, once the crisis occurred, it was met with incomprehension by most economists because of models that, on the one hand, downplay the possibility that economic actors may exhibit highly interactive behavior; and, on the other, (...) assume that any homogeneity will involve economic actors sharing the economist’s own putatively correct model of the economy, so that error can stem only from an exogenous shock. The financial crisis presents both an ethical and an intellectual challenge to economics, and an opportunity to reform its study by grounding it more solidly in reality. (shrink)

This edition includes new essays by philosopher Michael Williams and literary scholar David Bromwich, as well as Rorty's previously unpublished essay "The ...

If models can be true, where is their truth located? Giere (Explaining science, University of Chicago Press, Chicago, 1998) has suggested an account of theoretical models on which models themselves are not truth-valued. The paper suggests modifying Giere’s account without going all the way to purely pragmatic conceptions of truth—while giving pragmatics a prominent role in modeling and truth-acquisition. The strategy of the paper is to ask: if I want to relocate truth inside models, how do I get it, what (...) else do I need to accept and reject? In particular, what ideas about model and truth do I need? The case used as an illustration is the world’s first economic model, that of von Thünen (1826/1842) on agricultural land use in the highly idealized Isolated State. (shrink)

The no-miracles argument for realism and the pessimistic meta-induction for anti-realism pull in opposite directions. Structural Realism---the position that the mathematical structure of mature science reflects reality---relieves this tension.

Inferences like these are known as extrapolations.

Models are of central importance in many scientific contexts. The centrality of models such as inflationary models in cosmology, general-circulation models of the global climate, the double-helix model of DNA, evolutionary models in biology, agent-based models in the social sciences, and general-equilibrium models of markets in their respective domains is a case in point (the Other Internet Resources section at the end of this entry contains links to online resources that discuss these models). Scientists spend significant amounts of time building, (...) testing, comparing, and revising models, and much journal space is dedicated to interpreting and discussing the implications of models. In short, models are one of the principal instruments of modern science. (shrink)

This paper describes a theory of accuracy or approximate truth and applies it to problems in the realist interpretation of scientific theories. It argues not only that realism requires approximate truth, but that an adequate theory of approximation also presupposes some elements of a realist interpretation of theories. The paper distinguishes approximate truth from vagueness, probability and verisimilitude, and applies it to problems of confirmation and deduction from inaccurate premises. Basic results are cited, but details appear elsewhere. Objections are surveyed, (...) including arguments by Miller, Laymon, and Laudan. Comparison is made with Niiniluoto's theory of verisimilitude, and the utility of his theory for realism assessed. (shrink)

In much recent work, invariance under intervention has become a hallmark of the correctness of a causal-law claim. Despite its importance this thesis generally is either simply assumed or is supported by very general arguments with heavy reliance on examples, and crucial notions involved are characterized only loosely. Yet for both philosophical analysis and practicing science, it is important to get clear about whether invariance under intervention is or is not necessary or sufficient for which kinds of causal claims. Furthermore, (...) we need to know what counts as an intervention and what invariance is. In this paper I offer explicit definitions of two different kinds for the notions intervention, invariance, and causal correctness. Then, given some natural and relatively uncontroversial assumptions, I prove two distinct sets of theorems showing that invariance is indeed a mark of causality when the concepts are appropriately interpreted. (shrink)

Debates about scientific realism are closely connected to almost everything else in the philosophy of science, for they concern the very nature of scientific knowledge. Scientific realism is a positive epistemic attitude toward the content of our best theories and models, recommending belief in both observable and unobservable aspects of the world described by the sciences. This epistemic attitude has important metaphysical and semantic dimensions, and these various commitments are contested by a number of rival epistemologies of science, known collectively (...) as forms of scientific antirealism. This article explains what scientific realism is, outlines its main variants, considers the most common arguments for and against the position, and contrasts it with its most important antirealist counterparts. (shrink)

The experimental approach in economics is a driving force behind some of the most exciting developments in the field. The 'experimental revolution' was based on a series of bold philosophical premises which have remained until now mostly unexplored. This book provides the first comprehensive analysis and critical discussion of the methodology of experimental economics, written by a philosopher of science with expertise in the field. It outlines the fundamental principles of experimental inference in order to investigate their power, scope and (...) limitations. The author demonstrates that experimental economists have a lot to gain by discussing openly the philosophical principles that guide their work, and that philosophers of science have a lot to learn from their ingenious techniques devised by experimenters in order to tackle difficult scientific problems. (shrink)

Woodward's long awaited book is an attempt to construct a comprehensive account of causation explanation that applies to a wide variety of causal and explanatory claims in different areas of science and everyday life. The book engages some of the relevant literature from other disciplines, as Woodward weaves together examples, counterexamples, criticisms, defences, objections, and replies into a convincing defence of the core of his theory, which is that we can analyse causation by appeal to the notion of manipulation.

Argues that ontological reduction of macroeconomics to microeconomics is untenable. Existence of macroeconomic aggregates; Microfoundations of macroeconomics; Examinations of the general price level; Limits of the scientific development of microeconomics.

Vaihinger... shows that thought is primarily a biological function turned into a conscious art. It is an art of adjustment, whose chief instrument is the construction of fictions by which men may manage to live. Thought is to be tested not by correspondence to an objective reality (that fiction is neatly disposed of) nor by its mirroring in consciousness an objective external world. Thought is to be tested by its fruits. The constructions of thought are not copies of or transcripts (...) of reality; they are programs, guess-work plans; possible programs for operation. Their validity is to be measured not by verisimilitude but by value. The fruits of thought are not "true," but especially where they are false, it may be important to act as if they were true... Vaihinger's chief originality consists in his defining of fictions and his distinction of fictions from hypotheses on the one hand, and from dogmatisms on the other. An hypothesis is a tentative discovery about the universe; a fiction is a deliberate, often clearly false and internally contradictory invention of thought... Evolution is the hypothesis that man is descended from the lower animals. We assume that we can indirectly turn to the remote facts which would justify that hypothesis. But the concept of infinity in the calculus, the atom and the ether in physics, the economic man in Adam Smith, are deliberate self-contradictory fictions, and fictions at variance with all experience. But though they are not only imaginary, false to the reality they allegedly represent and logically incoherent, they nevertheless facilitate thought and proper action. They are vital lies, human conveniences. They are the faiths, the palpably false faiths, the clearly useful falsities by which we live... The discovery that fictions were fictions has led, in the past, says Vaihinger, to an abandonment of them, and a turning to other fictions believed to be truer. Pathetic and foolish adventure! What the race needs is more faith in its own effective imaginations. The myths that it has told itself, the world pictures that it has made, are not to be dismissed because they are found to be creations of the imagination. They tally with no world and they carry the canker of logical inconsistency within them. The important thing is their utility; their human scope and mortal relevance. If we ceased making fictions, we should cease altogether to be. Let us beware to plunge from fruitful fictions to less fruitful ones that masquerade as truths and are really dogmatisms. (Review of As If by Irwin Edman, Saturday Review of Literature, 10 January, 1925) This is a well-formatted version of C.K. Ogden's translation of Philosophie des Als Ob, originally published in 1925 by Kegan Paul. (shrink)

This book on the philosophy of science argues for an empiricism, opposed to the tradition of David Hume, in which singular rather than general causal claims are primary; causal laws express facts about singular causes whereas the general causal claims of science are ascriptions of capacities or causal powers, capacities to make things happen. Taking science as measurement, Cartwright argues that capacities are necessary for science and that these can be measured, provided suitable conditions are met. There are case studies (...) from both econometrics and quantum mechanics. (shrink)

This 1989 book is intended as an introductory survey of the philosophy of the social sciences. It is essentially a work of exposition which offers a toolbox of mechanisms - nuts and bolts, cogs and wheels - that can be used to explain complex social phenomena. Within a brief compass, Jon Elster covers a vast range of topics. His point of departure is the conflict we all face between our desires and our opportunities. How can rational choice theory help us (...) understand our motivation and behaviour? More significantly, what happens when the theory breaks down but we still cleave to a belief in the power of the rational? Elster describes the fascinating range of forms of irrationality - wishful thinking, the phenomenon of sour grapes, discounting the future in noncooperative behaviour. This is a remarkably lucid and comprehensive introduction to the social sciences for students of political science, philosophy, sociology and economics. (shrink)

In a series of carefully argued and stimulating papers on realism, Usakli Maki has pointed out that economic theories typically are unrealistic in two senses: by violating "the-whole-truth" and "nothing-but-the-truth" (Maki 1989, 1992b, 1994b). He suggests that realism in economics can still be rescued by regarding theories as partially true descriptions of essences and as lawlike statements about tendencies. In this chapter, I defend realism by an alternative strategy: idealizational (or "isolational") statements are counterfactual conditional (Niiniluoto 1986), and the concepts (...) of truth and truthlikeness can be applied to them (Niiniluoto 1987). Further, false but sufficiently truthlike theories may be taken to refer to real entities in the world (Niiniluoto 1997, 1999). (shrink)