TY - T1 - Explanatory Value in Context : The Curious Case of Hotelling’s Location Model SN - / UR - http://hdl.handle.net/10138/321764 T3 - A1 - Aydinonat, N. Emrah; Köksal, Emin A2 - PB - Y1 - 2019 LA - eng AB - 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 th... VO - IS - SP - OP - KW - 611 Philosophy; explanation; models; idealization; 511 Economics; spatial competition; Harold Hotelling; Hotelling model; principle of minimum differentiation N1 - PP - ER -