The Efficiency Question in Economics

Bibliographic Data

ID10703537
AuthorsRobert Northcott (0000-0001-8791-8364, Birkbeck, University of London, corresponding author)
Year2018
Volume85
Issue5
Pages1140-1151
Publication date2018-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenuePhilosophy of Science (JOURNAL)
Journal identifiersISSN: 0031-8248 • E-ISSN: 1539-767X
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1086/699688
OpenAlexW2883314927
LanguageEN
Citations received2
References cited20

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

Economics · Epistemology · Management science · Positive economics · Complex Systems and Time Series Analysis · Computer Science · Economic Theory and Institutions · Philosophy

Tools

Open DOISci-Hub