Economic theories and their Dueling interpretations

Journal of Economic Methodology:1-20 (2022)
  Copy   BIBTEX


The interpretation of economic theories varies along several dimensions. First, models can describe reality, illustrate a recommended state of affairs, or analyze the structure and implications of a theory. Second, theories can be used for prediction or for explanation. Third, theories can relate to reality in a rule-based or case-based manner. Fourth, theories can be statements about economic reality or about the act of economic reasoning itself. Fifth, theories can offer predictions or merely critique reasoning. We argue that theories are often open to multiple interpretations which can shift depending on the context in which the theory is applied, the surrounding economic literature, and the argument made by the interpreter.



    Upload a copy of this work     Papers currently archived: 91,998

External links

Setup an account with your affiliations in order to access resources via your University's proxy server

Through your library

Similar books and articles

Essays on Philosophy and Economic Methodology. [REVIEW]Luc Bovens - 1994 - Review of Metaphysics 47 (4):818-819.
It’s Just A Feeling: Why Economic Models Do Not Explain.Anna Alexandrova & Robert Northcott - 2013 - Journal of Economic Methodology 20 (3):262 - 267.
The Sociology of Economic Knowledge.Philippe Steiner - 2001 - European Journal of Social Theory 4 (4):443-458.
The Modal View and Defending Microeconomics.Steven Rappaport - 1986 - PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1986:289 - 297.


Added to PP

14 (#991,500)

6 months
10 (#269,219)

Historical graph of downloads
How can I increase my downloads?

Citations of this work

No citations found.

Add more citations

References found in this work

No references found.

Add more references