Behind the Model : A Constructive Critique of Economic Modeling
Book Details
Format
Paperback / Softback
Book Series
Strategies for Social Inquiry
ISBN-10
1107677807
ISBN-13
9781107677807
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Sep 3rd, 2015
Print length
230 Pages
Weight
398 grams
Dimensions
17.70 x 24.60 x 1.30 cms
Ksh 5,900.00
Manufactured on Demand
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Quality
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This ambitious book reveals how formal models are constructed in economics. Ranging across economics, philosophy, and social science methods, and drawing on examples, including the recent financial crisis, Behind the Model will be of interest to anyone who has wondered how economics works - and why it sometimes fails.
This ambitious book looks ''behind the model'' to reveal how economists use formal models to generate insights into the economy. Drawing on recent work in the philosophy of science and economic methodology, the book presents a novel framework for understanding the logic of economic modeling. It also reveals the ways in which economic models can mislead rather than illuminate. Importantly, the book goes beyond purely negative critique, proposing a concrete program of methodological reform to better equip economists to detect potential mismatches between their models and the targets of their inquiry. Ranging across economics, philosophy, and social science methods, and drawing on a variety of examples, including the recent financial crisis, Behind the Model will be of interest to anyone who has wondered how economics works - and why it sometimes fails so spectacularly.
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