This ambitious book looks 'behind the model' to reveal how economists use formal models to generate insights into the economy. Drawing on recent work in the philosophy of science and economic methodology, the book presents a novel framework for understanding the logic of economic modeling. It also reveals the ways in which economic models can mislead rather than illuminate. Importantly, the book goes beyond purely negative critique, proposing a concrete program of methodological reform to ...

Kenneth J. Arrow's pathbreaking "impossibility theorem" was a watershed innovation in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence.In this book Eric Maskin and Amartya Sen explore the implications of Arrow's theorem. Sen considers its ongoing utility, exploring the theorem's value and limitations in relation to ...

Philosophy of Economics: A Contemporary Introduction is the first systematic textbook in the philosophy of economics. It introduces the epistemological, metaphysical and ethical problems that arise in economics, and presents detailed discussions of the solutions that have been offered.Throughout, philosophical issues are illustrated by and analysed in the context of concrete cases drawn from contemporary economics, the history of economic ideas, and actual economic events....

Originally published in 1951, Social Choice and Individual Values introduced “Arrow’s Impossibility Theorem” and founded the field of social choice theory in economics and political science. This new edition, including a new foreword by Nobel laureate Eric Maskin, reintroduces Arrow’s seminal book to a new generation of students and researchers."Far beyond a classic, this small book unleashed the ongoing explosion of interest in social choice and voting theory. A half-cent...

What happens to scientific knowledge when researchers outside the natural sciences bring elements of the latest trend across disciplinary boundaries for their own purposes? Researchers in fields from anthropology to family therapy and traffic planning employ the concepts, methods, and results of chaos theory to harness the disciplinary prestige of the natural sciences, to motivate methodological change or conceptual reorganization within their home discipline, and to justify public policie...

The experimental approach in economics is a driving force behind some of the most exciting developments in the field. The 'experimental revolution' was based on a series of bold philosophical premises which have remained until now mostly unexplored. This book provides the first comprehensive analysis and critical discussion of the methodology of experimental economics, written by a philosopher of science with expertise in the field. It outlines the fundamental principles of experimental in...

In its second edition, Method in Social Science was widely praised for its penetrating analysis of central questions in social science discourse. This revised edition comes with a new preface and a full bibliography. The book is intended for students and researchers familiar with social science but having little or no previous experiences of philosophical and methodological discussion, and for those who are interested in realism and method.

This book has already been published in Italy by the university press Aracne (http://www.aracneeditrice.it/aracneweb/index.php/pubblicazione.html?item=9788854857957). Its twofold purpose is to define some dimensions of individual autonomy (in particular, existential, functional and relational autonomy) and promote their dissemination within society, mainly through the introduction of some legal and economic tools.Starting from references to authors such as Adam Smith, Immanuel Kant...

A groundbreaking new synthesis and theory of social institutionsUnderstanding Institutions proposes a new unified theory of social institutions that combines the best insights of philosophers and social scientists who have written on this topic. Francesco Guala presents a theory that combines the features of three influential views of institutions: as equilibria of strategic games, as regulative rules, and as constitutive rules.Guala explains key i...

Approaches to leadership and management are still dominated by prescriptions – usually claimed as scientific – for top executives to choose the future direction of their organization. The global financial recession and the collapse of investment capitalism (surely not planned by anyone) make it quite clear that top executives are simply not able to choose future directions. Despite this, current management literature mostly continues to avoid the obvious – management’s inability to predict...

This book seeks to reclaim Capital from the myth of internal inconsistency, a myth that serves to justify the censorship of Marx's critique of political economy and present-day research based upon it. Andrew Kliman shows that the alleged inconsistencies are actually caused by misinterpretation. By modifying the standard interpretation of Marx's value theory in two simple ways, the recent 'temporal single-system interpretation' eliminates all of the alleged inconsistencies. Written especial...

This book discusses and summarizes the revived interest in reality issues (ontology) within accounting, economics, and the information sciences, with a view to informing scholars from these different disciplines about each other’s endeavours in ontological research. Even more importantly, the book aims at familiarizing scholars from various disciplines with an evolutionary approach for examining questions about reality in the social sciences.The book is based on a partly