Explanatory Value in Context : The Curious Case of Hotelling’s Location Model

Show full item record



Permalink

http://hdl.handle.net/10138/321764

Citation

Aydinonat , N E & Köksal , E 2019 , ' Explanatory Value in Context : The Curious Case of Hotelling’s Location Model ' , European Journal of the History of Economic Thought , vol. 26 , no. 5 , pp. 879-910 . https://doi.org/10.1080/09672567.2019.1626460

Title: Explanatory Value in Context : The Curious Case of Hotelling’s Location Model
Author: Aydinonat, N. Emrah; Köksal, Emin
Contributor: University of Helsinki, Helsinki Inequality Initiative (INEQ)
Date: 2019-09-03
Number of pages: 32
Belongs to series: European Journal of the History of Economic Thought
ISSN: 0967-2567
URI: http://hdl.handle.net/10138/321764
Abstract: There is a striking contrast between the significance of Harold Hotelling’s contribution to industrial economics and the fact that his location model was invalid, unrealistic and non-robust. It is difficult to make sense of the explanatory value of Hotelling’s model based on philosophical accounts that emphasize logical validity, representational adequacy, and robustness as determinants of explanatory value. However, these accounts are misleading because they overlook the context within which the explanatory value added of a model is apprehensible. We present Hotelling’s model in its historical context and show why it is an important and explanatory model despite its apparent deficiencies.
Subject: 611 Philosophy
explanation
models
idealization
511 Economics
spatial competition
Harold Hotelling
Hotelling model
principle of minimum differentiation
Rights:


Files in this item

Total number of downloads: Loading...

Files Size Format View
Aydinonat_Koksal_2019_Hotelling_EJHET.pdf 220.5Kb PDF View/Open

This item appears in the following Collection(s)

Show full item record