When are Purely Predictive Models Best?

Disputatio 9 (47):631-656 (2017)
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Abstract

Can purely predictive models be useful in investigating causal systems? I argue ‘yes’. Moreover, in many cases not only are they useful, they are essential. The alternative is to stick to models or mechanisms drawn from well-understood theory. But a necessary condition for explanation is empirical success, and in many cases in social and field sciences such success can only be achieved by purely predictive models, not by ones drawn from theory. Alas, the attempt to use theory to achieve explanation or insight without empirical success therefore fails, leaving us with the worst of both worlds – neither prediction nor explanation. Best go with empirical success by any means necessary. I support these methodological claims via case studies of two impressive feats of predictive modelling: opinion polling of political elections, and weather forecasting.

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Robert Northcott
Birkbeck, University of London

Citations of this work

Big data and prediction: Four case studies.Robert Northcott - 2020 - Studies in History and Philosophy of Science Part A 81:96-104.
What’s so special about empirical adequacy?Sindhuja Bhakthavatsalam & Nancy Cartwright - 2017 - European Journal for Philosophy of Science 7 (3):445-465.
The Efficiency Question in Economics.Northcott Robert - 2018 - Philosophy of Science 85 (5):1140-1151.
Prediction versus accommodation in economics.Robert Northcott - 2019 - Journal of Economic Methodology 26 (1):59-69.

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References found in this work

Thinking about mechanisms.Peter Machamer, Lindley Darden & Carl F. Craver - 2000 - Philosophy of Science 67 (1):1-25.
Economics and reality.Tony Lawson - 1997 - New York: Routledge.
Nuts and Bolts for the Social Sciences.Jon Elster - 1989 - Cambridge University Press.

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