Models in Economics Are Not (Always) Nomological Machines: A Pragmatic Approach to Economists’ Modeling Practices
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5 mai 2013
- handle: 10670/1.dc7eyt
- hal: hal-02866220
- doi: 10.1177/0048393112458715
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info:eu-repo/semantics/altIdentifier/doi/10.1177/0048393112458715
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Nancy Cartwright economic models nomological machines inferential norms experiments HCERES PhilosophySujets proches
Machines Machinery--Curious devices Economic theory Political economyCiter ce document
Cyril Hédoin, « Models in Economics Are Not (Always) Nomological Machines: A Pragmatic Approach to Economists’ Modeling Practices », HAL-SHS : économie et finance, ID : 10.1177/0048393112458715
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Résumé
This paper evaluates Nancy Cartwright’s critique of economic models. Cartwright argues that economics fails to build relevant “nomological machines” able to isolate capacities. In this paper, I contend that many economic models are not used as nomological machines. I give some evidence for this claim and build on an inferential and pragmatic approach to economic modeling. Modeling in economics responds to peculiar inferential norms where a “good” model is essentially a model that enhances our knowledge about possible worlds. As a consequence, models and experiments are very different knowledge-producing devices, at least in economics.