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The efficiency question in economics

Northcott, Robert (2018) The efficiency question in economics. [Preprint]

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Abstract

Much philosophical attention has been devoted to whether economic models explain, and more generally to how scientific models represent. Yet there is an issue more practically important to economics than either of these, which I label the efficiency question: regardless of how exactly models represent, or of whether their role is explanatory or something else, is current modeling practice an efficient way to achieve these goals – or should research efforts be redirected? In addition to showing how the efficiency question has been relatively neglected, I give two examples of the kind of analysis it requires.


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Item Type: Preprint
Creators:
CreatorsEmailORCID
Northcott, Robertr.northcott@bbk.ac.uk
Additional Information: forthcoming in Philosophy of Science
Keywords: Economics; models; theory; representation; explanation
Subjects: Specific Sciences > Economics
General Issues > Explanation
General Issues > Models and Idealization
General Issues > Science and Society
General Issues > Science and Policy
Depositing User: Dr Robert Northcott
Date Deposited: 27 Nov 2018 16:47
Last Modified: 27 Nov 2018 16:47
Item ID: 15385
Subjects: Specific Sciences > Economics
General Issues > Explanation
General Issues > Models and Idealization
General Issues > Science and Society
General Issues > Science and Policy
Date: 27 November 2018
URI: https://philsci-archive-dev.library.pitt.edu/id/eprint/15385

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