A Model of Modeling
Posted: 21 Sep 2014
Date Written: August 13, 2014
We propose a formal model of scientific modeling, geared to applications of decision theory and game theory. The model highlights the freedom that modelers have in conceptualizing social phenomena using general paradigms in these fields. It may shed some light on the distinctions between (i) refutation of a theory and a paradigm, (ii) notions of rationality, (iii) modes of application of decision models, and (iv) roles of economics as an academic discipline. Moreover, the model suggests that all four distinctions have some common features that are captured by the model.
Keywords: Methodology, Models, Economic Modeling
JEL Classification: B40, B41
Suggested Citation: Suggested Citation