The explanation paradox redux

Reiss, Julian

doi:10.1080/1350178x.2013.828874

Cited by 18 publications

(9 citation statements)

References 14 publications

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“…These features are widely agreed to provide a good basis for explanation, even among those who argue that other bases are possible, e.g. that explanations can be epistemic (Reiss, 2013). A theory in this sense can also be said to be true or false-or perhaps better, that it is able to possess some degree of truth.…”

Section: Theories Generated From Evidencementioning

confidence: 99%

“…They are typically not phrased in the language of capacities, even when they accurately capture a causal feature of the target system-rather, they tend to be set out as relationships between variables (at least this is true of economics). Models are constructions, and therefore epistemic (Reiss, 2013), whereas empirically based theories are intended to represent major features of the real world and are thus ontic. And, whereas evidence is central to such theories, it does not play an explicit part in model construction-although obviously the modeller typically takes account of the real world when deciding on what the model should contain.…”

Section: The Literature On Models and Theory In The Philosophy Of Ecomentioning

confidence: 99%

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Causal theories, models and evidence in economics—some reflections from the natural sciences

Joffe

2017

Cogent Economics & Finance

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Models have been extensively analysed in economic methodology, notably their degree of ability to provide explanations. This paper takes a complementary, comparative approach, examining theory development in the natural sciences. Examples show how diverse types of evidence combine with causal hypotheses to generate empirically based causal theories-a cumulative process occurring over a long timescale. Models are typically nested within this broader theory. This could be a good model for research in economics, providing a methodology that ensures good correspondence with the target system-especially as economics research is largely empirical, and has effective methods for causal inference. This paper analyses the key features of three successful theories in the natural sciences, and draws out some lessons that may be useful to economists. Some examples of good practice in economics are noted, e.g. involving money and banking, and the growth of the state. On the other hand, the widespread pre-crisis use of dynamic stochastic general equilibrium (DSGE) models that ignored the financial sector raises the question, how to realise what has been omitted? Nesting models in an empirically based causal theory could solve this. Furthermore, some phenomena have clear explanations, but mainstream theory obscures them, as with the Lucas puzzle about the

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Section: Theories Generated From Evidencementioning

confidence: 99%

Section: The Literature On Models and Theory In The Philosophy Of Ecomentioning

confidence: 99%

Causal theories, models and evidence in economics—some reflections from the natural sciences

Joffe

2017

Cogent Economics & Finance

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“…Apesar da recente onda de testes de modelos em ciência política (BAS; SIGNORINO; WALKER, 2008;CLARKE;SIGNORINO, 2010;MONROE et al, 2015), ainda há muita discussão sobre a necessidade de modelos formais puros. Os filósofos da ciência, economistas e cientistas políticos participam desse debate, especialmente em termos das capacidades explicativas dos modelos (ALEXANDROVNA; NORTHCOTT, 2013;CARTWRIGHT, 2010;HAUSMAN, 2005HAUSMAN, , 2013JOHNSON, 2014JOHNSON, , 2017MÄKI, 2013;MORTON, 1999;REISS, 2013;SUGDEN, 2011SUGDEN, , 2013. Nesse processo, as hierarquias do conhecimento 31 De acordo com o ex-editor do JTP, Keith Dowding, a revista incentivou os teóricos de modelos formais a enviarem seus artigos para a revista, visto que eles estavam vendo suas propostas serem rejeitadas por revistas mainstream.…”

Section: Gráfico 1 Distribuição De Artigos Publicados Na Ajpsunclassified

Críticas à teoria da escolha racional e hierarquias de conhecimento na ciência política

Lima¹

2018

BIB

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Critiques of rational choice theory and hierarchies of knowledge in political science The rational choice theory has become an anathema in contemporary political science. Ever since the first models of rational choice were created, theorists of this line are criticized by the epistemological content of their studies, as well as by the use of formal models as the methodological approach of political phenomena. The criticism occurs in different disciplines, namely psychology, economics and political science. This article reconstructs the debates that occurred within behavioral and cognitive sciences, as well as in political science itself, seeking to understand how they were developed. This article also presents bibliometric data on the recent production in rational choice theory and discusses how they reveal hierarchies of knowledge about the alleged prominence of rational choice models in the major political science journals.

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“…This focus is complementary to the more traditional concern of economic methodology with analysis of models, e.g. whether they contain -or can in principle containtrue statements about the real world [1], and the extent to which they can provide explanations [2][3][4][5][6][7][8][9][10].…”

Section: Introductionmentioning

confidence: 99%

Causation, Capacities, Flow, Initiative and Power in the Economic System

Joffe¹

2018

aeb

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Natural sciences such as biology and geology are characterised by empirically-based causal theories, which were developed by iteration between evidence and causal ideas. Economics could benefit from applying a similar methodology, given that it seeks to explain a similarly complicated, heterogeneous and open-ended reality. Causal accounts that correspond with the real world would replace "as if" theories, and the practice of seeking to explain the deviation of observed phenomena from standard theory rather than the phenomena themselves. As in those natural sciences, theory would be based on capacities-taking account of the human characteristics of interaction, incentive-following and initiative-and on flows and stocks, especially buying power (income and wealth). More generally, causal theories in economics should focus on power, in the sense of the ability to bring something about. This especially applies to the firm's authority structure (legitimate power), which arises from its ability to pay its workers, but more fundamentally, to successful investment initiative. Finally, human interaction needs to be incorporated, in the form of system causation. The "price mechanism" is one example, and there are other important examples of systems that display feedback, e.g. bubbles, as well as complexity.

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The explanation paradox redux

Cited by 18 publications

References 14 publications

Causal theories, models and evidence in economics—some reflections from the natural sciences

Causal theories, models and evidence in economics—some reflections from the natural sciences

Críticas à teoria da escolha racional e hierarquias de conhecimento na ciência política

Causation, Capacities, Flow, Initiative and Power in the Economic System

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