Veit, Walter (2021) Model Diversity and the Embarrassment of Riches. [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 | ||||||
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| 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 |
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| Depositing User: | Dr. Walter Veit | ||||||
| Date Deposited: | 03 Mar 2021 03:04 | ||||||
| Last Modified: | 05 Feb 2023 14:07 | ||||||
| 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 |
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| Date: | 2021 | ||||||
| URI: | https://philsci-archive.pitt.edu/id/eprint/18765 |
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