Results for 'Philosophy of Economics'

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  1. The Philosophy of Austrian Economics[REVIEW]Barry Smith - 1994 - The Review of Austrian Economics 7 (2):127-132.
    Review of The Philosophical Origins of Austrian Economics, by David Gordon. Auburn, Alabama: Ludwig von Mises Institute, 1993.
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  2. Mentalism Versus Behaviourism in Economics: A Philosophy-of-Science Perspective.Franz Dietrich & Christian List - 2016 - Economics and Philosophy 32 (2):249-281.
    Behaviourism is the view that preferences, beliefs, and other mental states in social-scientific theories are nothing but constructs re-describing people's behaviour. Mentalism is the view that they capture real phenomena, on a par with the unobservables in science, such as electrons and electromagnetic fields. While behaviourism has gone out of fashion in psychology, it remains influential in economics, especially in ‘revealed preference’ theory. We defend mentalism in economics, construed as a positive science, and show that it fits best (...)
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  3. Caveat Emptor: Economics and Contemporary Philosophy of Science.D. Wade Hands - 1997 - Philosophy of Science 64 (4):116.
    The relationship between economics and the philosophy of natural science has changed substantially during the last few years. What was once exclusively a one-way relationship from philosophy to economics now seems to be much closer to bilateral exchange. The purpose of this paper is to examine this new relationship. First, I document the change. Second, I examine the situation within contemporary philosophy of science in order to explain why economics might have its current appeal. (...)
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  4. Philosophy and Economics.D. Wade Hands - 2008 - In S. N. Durlauf & L. E. Blume (eds.), The New Palgrave Dictionary of Economics, 2nd edition. Palgrave. pp. 410-420.
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  5. Universals and the Methodenstreit: A Re-Examination of Carl Menger's Conception of Economics as an Exact Science.Uskali Mäki - 1997 - Studies in History and Philosophy of Science Part A 28 (3):475-495.
    In the latter half of the 19th century, economic thought in the Germanspeaking world was dominated, both intellectually and academically, by the so-called historical school, from Wilhelm Roscher to Gustav Schmoller and others. In 1871, the Austrian Carl Menger published his Grun&tze der Volkswirtschaftslehre (Menger, 1976 (1871)), customarily referred to as one of the three simultaneous discoveries of marginalist economics-the other two marginalist ‘revolutionaries’ being Jevons in England and Walras in France. Twelve years later, in 1883, Menger published a (...)
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  6. The Economic World View: Studies in the Ontology of Economics.Uskali Mäki (ed.) - 2001 - Cambridge University Press.
    The beliefs of economists are not solely determined by empirical evidence in direct relation to the theories and models they hold. Economists hold 'ontological presuppositions', fundamental ideas about the nature of being which direct their thinking about economic behaviour. In this volume, leading philosophers and economists examine these hidden presuppositions, searching for a 'world view' of economics. What properties are attributed to human individuals in economic theories, and which are excluded? Does economic man exist? Do markets have an essence? (...)
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  7. 2006 HES Presidential Address: A Tale of Two Mainstreams: Economics and Philosophy of Natural Science in the Mid-Twentieth Century.D. Wade Hands - 2007 - Journal of the History of Economic Thought 29:1-13.
    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.
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  8. Austrian Economics and Austrian Philosophy.Barry Smith - 1986 - In Wolfgang Grassl & Barry Smith (eds.), Austrian Economics: Historical and Philosophical Background. London: Croom Helm. pp. 1-36.
    Austrian economics starts out from the thesis that the objects of economic science differ from those of the natural sciences because of the centrality of the economic agent. This allows a certain a priori or essentialistic aspect to economic science of a sort which parallels the a priori dimension of psychology defended by Brentano and his student Edmund Husserl. We outline these parallels, and show how the theory of a priori dependence relations outlined in Husserl’s Logical Investigations can throw (...)
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  9. Mainstream Economics and the Austrian School: Toward Reunification.Adam K. Pham - 2017 - Erasmus Journal for Philosophy and Economics 10 (1):41-63.
    In this paper, I compare the methodology of the Austrian school to two alternative methodologies from the economic mainstream: the ‘orthodox’ and revealed preference methodologies. I argue that Austrian school theorists should stop describing themselves as ‘extreme apriorists’ (or writing suggestively to that effect), and should start giving greater acknowledgement to the importance of empirical work within their research program. The motivation for this dialectical shift is threefold: the approach is more faithful to their actual practices, it better illustrates the (...)
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  10.  40
    A Space Odyssey: The Political Philosophy of De-Spatialization.Britton Watson - manuscript
    I explore the political, economic, and cultural consequences of globalization of the reduction of space in the world. This work compares and contrasts the philosophical implications Jameson (and Marx) and Sloterdijk (with Heidegger) of globalization. The film 2001: A Space Odyssey is discussed as a metaphor for the cultural narratives Jameson and Sloterdijk provide.
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  11. Progress in Economics: Lessons From the Spectrum Auctions.Anna Alexandrova & Robert Northcott - 2009 - In Harold Kincaid & Don Ross (eds.), The Oxford Handbook of Philosophy of Economics. Oxford University Press. pp. 306--337.
    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 (...)
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  12. Zhang Yibing, Back to Marx: Changes of Philosophical Discourse in the Context of Economics[REVIEW]Kaan Kangal - 2017 - Science and Society 81:305-309.
    This massive book packs an astounding amount of analysis of Marx into its pages. Three contributions are here noteworthy: 1) Zhang presents one of the most extensive overviews on Marx’s entire work; 2) he provides good reasons to think that some of the standard readings are uncharitable, if not entirely inconsistent; 3) he holds that the late Marx’s world outlook is to be considered as a historical phenomenology.
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  13. Causal Contributions in Economics.Christopher Clarke - forthcoming - In The Routledge Handbook of the Philosophy of Economics.
    This chapter explores the idea of one variable making a causal contribution to another variable, and how this idea applies to economics. It also explores the related concept of what-if questions in economics. In particular, it contrasts the modular theory of causal contributions and what-if questions (advocated by interventionists) with the ceteris paribus theory (advocated by Jim Heckman and others). It notes a problem with the modular theory raised by Nancy Cartwright. And it notes how, according to the (...)
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  14. The Logical Reconstruction of Pure Exchange Economics: Another Alternative.Douglas Wade Hands - 1985 - Theory and Decision 19 (3):259-278.
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  15.  76
    The Eroding Artificial/Natural Distinction: Some Consequences for Ecology and Economics.C. Tyler DesRoches, Stephen Andrew Inkpen & Thomas L. Green - 2019 - In Michiru Nagatsu & Attilia Ruzzene (eds.), Contemporary Philosophy and Social Science: An Interdisciplinary Dialogue. New York: pp. 39-57.
    Since Thomas Kuhn’s The Structure of Scientific Revolutions (1962), historians and philosophers of science have paid increasing attention to the implications of disciplinarity. In this chapter we consider restrictions posed to interdisciplinary exchange between ecology and economics that result from a particular kind of commitment to the ideal of disciplinary purity, that is, that each discipline is defined by an appropriate, unique set of objects, methods, theories, and aims. We argue that, when it comes to the objects of study (...)
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  16. Introspection, Revealed Preference and Neoclassical Economics: A Critical Response to Don Ross on the Robbins-Samuelson Argument Pattern.D. Wade Hands - 2008 - Journal of the History of Economic Thought 30:1-26.
    Abstract: Don Ross’ Economic Theory and Cognitive Science (2005) provides an elaborate philosophical defense of neoclassical economics. He argues that the central features of neoclassical theory are associated with what he calls the Robbins-Samuelson argument pattern and that it can be reconciled with recent developments in experimental and behavioral economics, as well as contemporary cognitive science. This paper argues that Ross’ Robbins-Samuelson argument pattern is not in the work of either Robbins or Samuelson and in many ways is (...)
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  17.  88
    Economics Imperialism Reconsidered.S. M. Amadae - 2017 - In Uskali Mäki, Adrian Walsh & Manuela Fernández Pinto (eds.), Scientific Imperialism: Exploring the Boundaries of Interdisciplinarity. London, UK: pp. 140-160.
    This chapter uses Uskali Mäki’s (2009) concepts of “good” and “bad” imperialism to investigate the “economics imperialism” thesis. If science expands by offering (a) consilience, and (b) epistemological and ontological unity – that is, it explains more phenomena with greater parsimony – then this is good scientific expansion. Economics imperialism is only bad if the methodology of economics expands outside its domain without increasing understanding in the above manners.
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  18. Pure Time Preference in Intertemporal Welfare Economics.J. Paul Kelleher - 2017 - Economics and Philosophy 33 (3):441-473.
    Several areas of welfare economics seek to evaluate states of affairs as a function of interpersonally comparable individual utilities. The aim is to map each state of affairs onto a vector of individual utilities, and then to produce an ordering of these vectors that can be represented by a mathematical function assigning a real number to each. When this approach is used in intertemporal contexts, a central theoretical question concerns the evaluative weight to be applied to utility coming at (...)
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  19. A Concept of Progress for Normative Economics.Philippe Mongin - 2006 - Economics and Philosophy 22 (1):19-54.
    The paper discusses the sense in which the changes undergone by normative economics in the twentieth century can be said to be progressive. A simple criterion is proposed to decide whether a sequence of normative theories is progressive. This criterion is put to use on the historical transition from the new welfare economics to social choice theory. The paper reconstructs this classic case, and eventually concludes that the latter theory was progressive compared with the former. It also briefly (...)
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  20.  94
    Challenges and Problems of Neuroeconomics: Several Tasks for Social Scientists.Michal Müller - 2018 - Teorie Vědy / Theory of Science 40 (2):133-156.
    Neuroscience is a fascinating discipline – its dynamic progress has led to the emergence of new interdisciplinary research programmes with great potential. One of these research areas is neuroeconomics. As will be shown in this article, this discipline, which is difficult to clearly characterize and define, is faced with many problems. This paper argues that social scientists should be interested in the problems and tendencies in social neuroscience for several reasons. Neuroeconomics, and other disciplines inspired by neuroscience, will compete with (...)
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  21. Preferences and Positivist Methodology in Economics.Christopher Clarke - 2016 - Philosophy of Science 83 (2):192-212.
    I distinguish several doctrines that economic methodologists have found attractive, all of which have a positivist flavour. One of these is the doctrine that preference assignments in economics are just shorthand descriptions of agents' choice behaviour. Although most of these doctrines are problematic, the latter doctrine about preference assignments is a respectable one, I argue. It doesn't entail any of the problematic doctrines, and indeed it is warranted independently of them.
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  22.  34
    Economics.Uskali Mäki - 2008 - In Martin Curd & Stathis Psillos (eds.), The Routledge companion to philosophy of science. Routledge.
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  23. Economics After the Crisis, and the Crisis in Economics.Martin O'Neill - 2013 - Renewal 21 (2-3):132-43.
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  24. Economics of Need and Economics of Want: A Distinction Essential: Prof. Barlingay's Account.Shriniwas Hemade - 2013 - Intellection : An Inter Disciplinary Research Journal of Humanities and Social Sciences : Peer Reviewed Journal. Vol I, Number 1, Januray-June 2013. ISSN: 2319-8192 (Januray-June 2013.):01-05.
    This research paper attempts to get pragmatic way to deal with few questions like, 'Will Indian Economic thoughts be able to give directions to crises-ridden global economic system?', 'Can India show solutions to the World's Present Socio-economical crises?'' and What are the Alternatives available before mankind to avoid economic crises?' The concept of economic exploitation or “exploitation” which has been the focal point of solemn philosophical debate is one of the favorite nouns in the glossary of critics of the free (...)
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  25.  80
    Experimental Economics' Inconsistent Ban on Deception.Gil Hersch - 2015 - Studies in History and Philosophy of Science Part A 52:13-19.
    According to what I call the ‘argument from public bads’, if a researcher deceived subjects in the past, there is a chance that subjects will discount the information that a subsequent researcher provides, thus compromising the validity of the subsequent researcher’s experiment. While this argument is taken to justify an existing informal ban on explicit deception in experimental economics, it can also apply to implicit deception, yet implicit deception is not banned and is sometimes used in experimental economics. (...)
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  26. The Problem of Excess Content: Economics, Novelty and a Long Popperian Tale.D. Wade Hands - 1991 - In Mark Blaug & Neil de Marchi (eds.), Appraising Economic Theories: Studies in the Methodology of Research Programs. Edward Elgar. pp. 58-75.
    The paper traces the sequence of events which brought Popperian philosophy (including Lakatos) to its position on the issues of excess content, novelty and scientific progress. The general approach is to analyze Popper's and Lakatos's positions on these issues as an appropriate response to a particular philosophical problem situation in which they found themselves. The paper closes with a discussion of how these issues relate to economics and economic methodology.
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  27.  42
    Value-free economics’ road towar Value-free economics’ road towards epistemological hubris. The use and abuse of mathematics by economists.Aleksander Ostapiuk - 2019 - Philosophical Problems in Science 67:153-202.
    The goal of the article is to substantiate that despite the criticism the paradigm in economics will not change because of the axiomatic assumptions of value-free economics. How these assumptions work is demonstrated on the example of Gary Becker’s economic approach which is analyzed from the perspective of scientific research programme. The author indicates hard core of economic approach and the protective belt which makes hard core immune from any criticism. This immunity leads economists to believe that they (...)
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  28. Ecological Economics and Human Ecology.Arran Gare - 2008 - In Michel Weber & William Desmond (eds.), Handbook of Whiteheadian Process Thought. Frankfurt, Germany: pp. 161-176.
    While economic theory has been enormously influential since the eighteenth century, the level of dominance of culture, politics and ethics gained by it in the last few decades is unprecedented. Not only has economic theory taken the place of political philosophy and ethical discourse and imposed its own concepts and image of society on other social sciences, it has redefined the natural sciences through its own categories as nothing but instruments of production, investment in which is to be judged (...)
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  29. On the Austrianness of Austrian Economics.Barry Smith - 1990 - Critical Review: A Journal of Politics and Society 4 (1-2):212-238.
    Much recent work on the intellectual background of Austrian economics reveals an unfortunate lack of awareness of the distinct nature of the Austrian contribution to philosophy, from which the Austrian economists drew many of their ideas. The present essay offers a sketch of this contribution, contrasting Austrian philosophy especially with the modes of philosophy dominant in Germany. This makes it possible to throw new light on the relations on Mises, Kant and the Vienna circle, and it (...)
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  30. More Light and Less Heat Mirowski on Economics and the Energy Metaphor.D. Wade Hands - 1992 - Philosophy of the Social Sciences 22 (1):97-111.
    Review Article on Mirowski's More Heat Than Light (1989).
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  31.  51
    Disputed (Disciplinary) Boundaries : Philosophy, Economics and Value Judgments.Paolo Silvestri - 2016 - History of Economic Ideas 24 (3):187-221.
    The paper aims to address the following two questions: what kind of discourse is that which attempt to found or defend the autonomy or the boundaries of a discipline? Why do such discourses tend to turn into normative, dogmatic-excommunicating discourses between disciplines, schools or scholars? I will argue that an adequate answer may be found if we conceive disciplines as dogmatics, where such discourses often take the form of a discourse on the foundation of a discipline, a foundation in the (...)
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  32.  28
    Ethics, Economics and Civilization: Why a New Metaphysics and a New Socio-Economic Order Are Required to Rescue Ethics.Arran Gare - 2013 - Chromatikon 9 (IX):121-145.
    The argument presented here is that we live in a nihilistic culture founded on a nihilistic metaphysics, and to recover ethics it is not merely a matter of returning to virtue ethics, as called for by Alasdair MacIntyre, but the development of a new metaphysics and the incorporation of this into a new socio-economic order.
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  33. Mark Blaug on the Normativity of Welfare Economics.D. Wade Hands - 2013 - Erasmus Journal for Philosophy and Economics 6 (3):1-25.
    Abstract: This paper examines Mark Blaug's position on the normative character of Paretian welfare economics: in general, and specifically with respect to his debate with Pieter Hennipman over this question during the 1990s. The paper also clarifies some of the confusions that emerged within the context of this debate, and closes by providing some additional arguments supporting Blaug's position that he himself did not provide.
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  34. The Logical Structure of Philosophy Psychology, Sociology, Anthropology Religion, Politics, Economics Literature and History - Articles and Reviews 2006-2019.Michael Richard Starks - 2019 - Las Vegas, NV USA: Reality Press.
    It is my contention that the table of intentionality (rationality, mind, thought, language, personality etc.) that features prominently here describes more or less accurately, or at least serves as an heuristic for, how we think and behave, and so it encompasses not merely philosophy and psychology, but everything else (history, literature, mathematics, politics etc.). Note especially that intentionality and rationality as I (along with Searle, Wittgenstein and others) view it, includes both conscious deliberative linguistic System 2 and unconscious automated (...)
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  35. Review of William Stanley Jevons and the Making of Modern Economics[REVIEW]D. Wade Hands - 2007 - Economics and Philosophy 23 (2):252-256.
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  36. Underdetermination in Economics: The Duhem-Quine Thesis.K. R. Sawyer, Howard Sankey & Clive Beed - 1997 - Economics and Philosophy 13 (1):1-23.
    This paper considers the relevance of the Duhem-Quine thesis in economics. In the introductory discussion which follows, the meaning of the thesis and a brief history of its development are detailed. The purpose of the paper is to discuss the effects of the thesis in four specific and diverse theories in economics, and to illustrate the dependence of testing the theories on a set of auxiliary hypotheses. A general taxonomy of auxiliary hypotheses is provided to demonstrate the confounding (...)
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  37.  65
    Population Thinking Vs. Essentialism in Biology and Evolutionary Economics.George Liagouras - 2017 - In Evolutionary Political Economy in Action. A Cyprus Symposium, Routledge. London & New York: pp. 36-53.
    The standard perception of the dichotomy between population thinking and essentialism (typological thinking) in evolutionary economics descends from the golden age of the neo-Darwinian Synthesis. Over the last few decades the received view on population thinking has been seriously challenged in biology and its philosophy. First, the strong version of population thinking that banishes essentialism witnessed important tensions stemming from the ontological status of species. These tensions have been amplified by the demise of positivism and the rise of (...)
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  38.  99
    The World as a Garden: A Philosophical Analysis of Natural Capital in Economics.C. Tyler DesRoches - 2015 - Dissertation, University of British Columbia
    This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view Nature in a radically novel manner. Formerly, economists referred to Nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. Nature (...)
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  39.  96
    Milton Friedman: Economics in Theory and Practice, by Abraham Hirsch and Neil de Marchi, University of Michigan Press, 1990, VIII+325 Pages. [REVIEW]Philippe Mongin - 1992 - Economics and Philosophy 8 (1):183-191.
    A review of A. Hisch and N. de Marchi's thorough historical study on Milton Friedman's life-long work as an economist (and more specifically as a monetary economist) and as an economic methodologist (in his famous essay "The Methodology of Positive Economics".
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  40. In Favor of Mentalism in Economics: A Conversation with Christian List.Christian List & Catherine Herfeld - forthcoming - In Catherine Herfeld (ed.), Conversations on Rational Choice. Cambridge: Cambridge University Press.
    This is an edited transcript of a conversation to be included in the collection "Conversations on Rational Choice". The conversation was conducted in Munich on 7 and 9 February 2016.
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  41. Understanding the Connections Between Science, Philosophy, Psychology, Religion, Politics, and Economics -- Articles and Reviews 2006-2019.Michael Starks - 2019 - Las Vegas, NV USA: Reality Press.
    The first group of articles attempt to give some insight into how we behave that is reasonably free of theoretical delusions as shown by reviews of books by leading authors in philosophy and psychology, which as I note can be seen as the same discipline in many situations. In the next section I comment on very basic confusions where one might least expect them – in science and mathematics. Next, I turn to confusions where most people do expect them—in (...)
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  42. Refutations: Essays in Politics, Economics, Ethics and Art / Refutações: Ensaios em Política, Economia, Ética e Arte.Rodrigo Cid (ed.) - 2020 - Porto Alegre, BR: Editora Fi.
    With this book we want to illustrate the way we philosophers think that public argument and debate should be. Our goal is not to present a collection of academic texts. Although most of us are part of the academy, we want to present to the lay public shorter, more essay-like texts, originally published on an Internet page called Refutations. The page is not, of course, an academic journal; it is a digital magazine with opinion texts that share simplicity, rigor and (...)
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  43. Hayek in the Lab. Austrian School, Game Theory, and Experimental Economics.Gustavo Cevolani - 2011 - Logic and Philosophy of Science 9 (1):429-436.
    Focusing on the work of Friedrich von Hayek and Vernon Smith, we discuss some conceptual links between Austrian economics and recent work in behavioral game theory and experimental economics. After a brief survey of the main methodological aspects of Austrian and experimental economics, we suggest that common views on subjectivism, individualism, and the role of qualitative explanations and predictions in social science may favour a fruitful interaction between these two research programs.
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  44. Toward Philosophy of Science’s Social Engagement.Angela Potochnik & Francis Cartieri - 2013 - Erkenntnis 79 (Suppl 5):901-916.
    In recent years, philosophy of science has witnessed a significant increase in attention directed toward the field’s social relevance. This is demonstrated by the formation of societies with related agendas, the organization of research symposia, and an uptick in work on topics of immediate public interest. The collection of papers that follows results from one such event: a 3-day colloquium on the subject of socially engaged philosophy of science held at the University of Cincinnati in October 2012. In (...)
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  45. Value Commitment, Resolute Choice, and the Normative Foundations of Behavioural Welfare Economics.C. Tyler DesRoches - 2020 - Journal of Applied Philosophy 37 (4):562-577.
    Given the endowment effect, the role of attention in decision-making, and the framing effect, most behavioral economists agree that it would be a mistake to accept the satisfaction of revealed preferences as the normative criterion of choice. Some have suggested that what makes agents better off is not the satisfaction of revealed preferences, but ‘true’ preferences, which may not always be observed through choice. While such preferences may appear to be an improvement over revealed preferences, some philosophers of economics (...)
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  46. Review of Bryan Norton, Sustainable Values, Sustainable Change.Steven Fesmire - 2016 - Environmental Ethics 38 (4):499-502.
    Sustainable Values, Sustainable Change is a culminating work written for a general audience of environmental professionals. In keeping with what he has long urged for environmental philosophers, Norton focuses on ameliorative processes for resolving disagreements, on making decisions, while sidestepping the monistic quest for the right general principles to think about and govern human relationships with nature. Norton presupposes his “convergence hypothesis” familiar to readers of this journal: multi-scalar anthropocentric arguments, he holds, usually justify the same policies as ecocentric arguments; (...)
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  47.  63
    Exchanges and Relationships: On Hard-Headed Economics Capturing the Soft Side of Life.Andrew Jason Cohen - 2012 - Social Theory and Practice 38 (2):231-257.
    Many social scientists think of exchange in terms far broader than philosophers. I defend the broader use of the term as well as the claim that meaningful human relationships are usefully understood as constituted by exchanges. I argue, though, that we must recognize that a great number of non-monetary and non-material goods are part of our daily lives and exchanges. Particularly important are emotional goods. I defend my view against the important objection that it demeans intimate relationships. As an addendum, (...)
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  48. Does Political Community Require Public Reason? On Lister’s Defence of Political Liberalism.Paul Billingham - 2016 - Politics, Philosophy and Economics 15 (1):20-41.
    Andrew Lister’s Public Reason and Political Community is an important new contribution to the debate over political liberalism. In this article, I critically evaluate some of the central arguments of the book in order to assess the current state of public reason liberalism. I pursue two main objections to Lister’s work. First, Lister’s justification for public reason, which appeals to the value of civic friendship, fails to show why public reason liberalism should be preferred to an alternative democratic theory that (...)
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  49.  57
    The World as a Garden: A Philosophical Analysis of Natural Capital in Economics.C. Tyler DesRoches - 2015 - Erasmus Journal for Philosophy and Economics 8 (2):121.
    This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view nature in a radically novel manner. Formerly, economists referred to nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, however, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. (...)
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  50. Team Reasoning and a Measure of Mutual Advantage in Games.Jurgis Karpus & Mantas Radzvilas - 0201 - Economics and Philosophy 34 (1):1-30.
    The game theoretic notion of best-response reasoning is sometimes criticized when its application produces multiple solutions of games, some of which seem less compelling than others. The recent development of the theory of team reasoning addresses this by suggesting that interacting players in games may sometimes reason as members of a team – a group of individuals who act together in the attainment of some common goal. A number of properties have been suggested for team-reasoning decision-makers’ goals to satisfy, but (...)
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