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Model Diversity and the Embarrassment of Riches (Preprint)

Veit, Walter (2021) Model Diversity and the Embarrassment of Riches (Preprint). [Preprint]

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Abstract

In a recent special issue dedicated to Dani Rodrik’s (2015) influential monograph Economics Rules, Grüne-Yanoff and Marchionni (2018) raise a potentially damning problem for Rodrik’s suggestion that progress in economics should be understood and measured laterally, by a continuous expansion of new models. They argue that this could lead to an “embarrassment of riches”, i.e. the rapid expansion of our model library to such an extent that we become unable to choose between the available models, and thus needs to be solved to make ‘model pluralism’ viable. Drawing on Veit’s (2019a) ‘model pluralism’ account, this paper argues that model pluralism as a thesis about the relationship between science and nature undermines the very idea of a general model selection framework for policy making.


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Item Type: Preprint
Creators:
CreatorsEmailORCID
Veit, Walterwrwveit@gmail.com0000-0001-7701-8995
Keywords: pluralism; models; model selection; policy making; Rodrik
Subjects: General Issues > Scientific Metaphysics
Specific Sciences > Complex Systems
Specific Sciences > Economics
General Issues > Evidence
General Issues > Explanation
General Issues > Models and Idealization
General Issues > Science and Society
General Issues > Science and Policy
Depositing User: Mr. Walter Veit
Date Deposited: 03 Mar 2021 03:04
Last Modified: 03 Mar 2021 03:04
Item ID: 18765
Subjects: General Issues > Scientific Metaphysics
Specific Sciences > Complex Systems
Specific Sciences > Economics
General Issues > Evidence
General Issues > Explanation
General Issues > Models and Idealization
General Issues > Science and Society
General Issues > Science and Policy
Date: 2021
URI: http://philsci-archive.pitt.edu/id/eprint/18765

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