The diversity of models as a means to better explanations in economics |
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Authors: | N. Emrah Aydinonat |
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Affiliation: | 1. TINT – Centre for Philosophy of Social Science, Social and Moral Philosophy, Faculty of Social Sciences, University of Helsinki, Helsinki, Finlandaydinonat@gmail.com |
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Abstract: | ABSTRACTIn Economics Rules, Rodrik [(2015). Economics rules: Why economics works, when it fails, and how to tell the difference. Oxford: Oxford University Press] argues that what makes economics powerful despite the limitations of each and every model is its diversity of models. Rodrik suggests that the diversity of models in economics improves its explanatory capacities, but he does not fully explain how. I offer a clearer picture of how models relate to explanations of particular economic facts or events, and suggest that the diversity of models is a means to better economic explanations. |
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Keywords: | Theoretical models explanation diversity of models how-possibly reasoning functions of models |
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