The Diversity of Models as a Means to Better Explanations in Economics

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Aydinonat , N E 2018 , ' The Diversity of Models as a Means to Better Explanations in Economics ' , Journal of Economic Methodology , vol. 25 , no. 3 , pp. 237-251 . https://doi.org/10.1080/1350178X.2018.1488478

Title: The Diversity of Models as a Means to Better Explanations in Economics
Author: Aydinonat, Nuri Emrah
Other contributor: University of Helsinki, Department of Political and Economic Studies (2010-2017)

Date: 2018
Language: eng
Number of pages: 15
Belongs to series: Journal of Economic Methodology
ISSN: 1350-178X
DOI: https://doi.org/10.1080/1350178X.2018.1488478
URI: http://hdl.handle.net/10138/238258
Abstract: In 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.
Subject: 611 Philosophy
511 Economics
Theoretical models
explanation
diversity of models
how-possibly reasoning
functions of models
EARNINGS INEQUALITY
WAGE INEQUALITY
DIFFERENTIATION
COMPETITION
ROBUSTNESS
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