Aydinonat, N. Emrah and Köksal, Emin (2019) Explanatory value in context: the curious case of Hotelling’s location model. The European Journal of the History of Economic Thought, 26 (5). pp. 879-910. ISSN 0967-2567
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Abstract
There is a striking contrast between the significance of Harold Hotelling’s contribution to industrial economics and the fact that his location model was invalid, unrealistic and non-robust. It is difficult to make sense of the explanatory value of Hotelling’s model based on philosophical accounts that emphasize logical validity, representational adequacy, and robustness as determinants of explanatory value. However, these accounts are misleading because they overlook the context within which the explanatory value added of a model is apprehensible. We present Hotelling’s model in its historical context and show why it is an important and explanatory model despite its apparent deficiencies.
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| Item Type: | Published Article or Volume | |||||||||
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| Keywords: | Harold Hotelling, principle of minimum differentiation, explanatory value, representational adequacy, robustness | |||||||||
| Subjects: | Specific Sciences > Economics General Issues > Explanation General Issues > Models and Idealization |
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| Depositing User: | Dr. N. Emrah Aydinonat | |||||||||
| Date Deposited: | 12 Dec 2020 14:57 | |||||||||
| Last Modified: | 12 Dec 2020 14:57 | |||||||||
| Item ID: | 17314 | |||||||||
| Journal or Publication Title: | The European Journal of the History of Economic Thought | |||||||||
| Official URL: | http://doi.org/10.1080/09672567.2019.1626460 | |||||||||
| DOI or Unique Handle: | 10.1080/09672567.2019.1626460 | |||||||||
| Subjects: | Specific Sciences > Economics General Issues > Explanation General Issues > Models and Idealization |
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| Date: | 2019 | |||||||||
| Page Range: | pp. 879-910 | |||||||||
| Volume: | 26 | |||||||||
| Number: | 5 | |||||||||
| ISSN: | 0967-2567 | |||||||||
| URI: | https://philsci-archive.pitt.edu/id/eprint/17314 |
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