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Appraising Economic Theories
Studies in the Methodology of Research Programs
The methodology of economics has long been dominated by the writings of Karl Popper and Imre Lakatos, two outstanding philosophers of science in the post-war period. This major new book focuses on the application of Lakatosian principles of appraisal to modern economics. An international group of distinguished economists have applied Lakatos's methodology of scientific research programs to a variety of economic theories, such as game theory, demand theory, consumption analysis, job search theory, equilibrium unemployment theory, the new classical macroeconomics, experimental economics, Austrian economics, Walrasian stability analysis and Sraffian economics. The introduction and afterword by the editors place the papers in the context of the recent rapidly evolving methodological controversy in economics. Taken as a whole, the book makes a powerful statement of the case for assessing rival economic theories with the aid of an explicit philosophy of science.
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What Reviewers Are Saying
`. . . everyone with a serious interest in economic methodology will want to read the many fine papers it contains.' -- Daniel M. Hausman, Methodus `There is no doubt that this major collection. . . . represents an important addition to the recent literature on economic methodology. . . . It is to be warmly recommended as a volume deserving to become compulsory reading for all scholars (and students) interested in economic methodology. . . ' -- Andrea Salanti, The Economic Journal