The Methodology of Economic Model Building (Routledge Revivals): Methodology after Samuelson

1st Edition

Lawrence A. Boland

Routledge
Published September 29, 2015
Reference - 194 Pages
ISBN 9781138776319 - CAT# Y166569
Series: Routledge Revivals

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Summary

The major methodological task for modern economists has been to establish the testability of models. Too often, however, methodological assumptions can make a model virtually impossible to test even under ideal conditions, yet few theorists have examined the requirements and problems of assuring testability in economics.

In The Methodology of Economic Model Building, first published in 1989, Lawrence Boland presents the results of a research project that spanned more than twenty years. He examines how economists have applied the philosophy of Karl Popper, relating methodological debates about falsifiability to wider discussions about the truth status of models in natural and social sciences. He concludes that model building in economics reflects more the methodological prescriptions of the economist Paul Samuelson than Popper’s ‘falsificationism’. This title will prove invaluable to both students and researchers, and represents a substantial contribution to current debates about the scientific status of economics.

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