Behind the Model

A Constructive Critique of Economic Modeling

Business & Finance, Economics, Economic History, Nonfiction, Science & Nature, Science
Cover of the book Behind the Model by Peter Spiegler, Cambridge University Press
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Author: Peter Spiegler ISBN: 9781316365557
Publisher: Cambridge University Press Publication: September 3, 2015
Imprint: Cambridge University Press Language: English
Author: Peter Spiegler
ISBN: 9781316365557
Publisher: Cambridge University Press
Publication: September 3, 2015
Imprint: Cambridge University Press
Language: English

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 better equip economists to detect potential mismatches between their models and the targets of their inquiry. Ranging across economics, philosophy, and social science methods, and drawing on a variety of examples, including the recent financial crisis, Behind the Model will be of interest to anyone who has wondered how economics works - and why it sometimes fails so spectacularly.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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 better equip economists to detect potential mismatches between their models and the targets of their inquiry. Ranging across economics, philosophy, and social science methods, and drawing on a variety of examples, including the recent financial crisis, Behind the Model will be of interest to anyone who has wondered how economics works - and why it sometimes fails so spectacularly.

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