We often face a bewildering array of different explanations for the same social facts (e.g. biological, psychological, economic, and historical accounts). But we have few guidelines for whether and when we should think of different accounts as competing or compatible. In this paper, I offer some guidelines for understanding when custom or norm accounts do and don’t compete with other types of accounts. I describe two families of non-competing accounts: (1) explanations of different (but similarly described) facts, and (2) accounts (...) which seem to differ but are really different parts or versions of the same underlying explanation. I argue that, while many types of apparent competitors don’t really compete with customs, there are some that do. I also describe some of the central problems, which suggest that custom accounts will compete poorly with their rivals. (shrink)

The idea that simplicity matters in science is as old as science itself, with the much cited example of Ockham's Razor, 'entia non sunt multiplicanda praeter necessitatem': entities are not to be multiplied beyond necessity. A problem with Ockham's razor is that nearly everybody seems to accept it, but few are able to define its exact meaning and to make it operational in a non-arbitrary way. Using a multidisciplinary perspective including philosophers, mathematicians, econometricians and economists, this 2002 monograph examines simplicity (...) by asking six questions: what is meant by simplicity? How is simplicity measured? Is there an optimum trade-off between simplicity and goodness-of-fit? What is the relation between simplicity and empirical modelling? What is the relation between simplicity and prediction? What is the connection between simplicity and convenience? The book concludes with reflections on simplicity by Nobel Laureates in Economics. (shrink)