Economic theories and their relational structures : a model-theoretic characterization / Erwin Klein.

Format:

Book

Author/Creator:

Klein, Erwin, 1935-

Language:

English

Subjects (All):

Economics--Methodology.

Economics.

Physical Description:

xiii, 246 pages ; 23 cm

Place of Publication:

New York, N.Y. : St. Martin's Press, 1998.

Contents:

1.1 Motivation: on some methodological features of economics 4

1.2 Overall goal 5

1.3 Method 5

1.4 Subject matter and scope 6

1.5 A taxonomy of economic theories 7

1.6 Characterization of empirical economic theories 8

1.7 On the methodological foundations of non-intendedly empirical economic theories 9

1.8 Organization of the book 10

2 Model-Theoretic Toolkit 12

2.1 Language 12

2.2 Semi-formalized languages: axiomatic theories 13

2.3 Structures 14

2.4 Models 14

2.5 Structural and proper axioms 15

2.6 Intended and non-intended structures and models 16

2.7 An economic example 16

3 Theoretical Economics 20

3.1 Economic theories and models 20

3.2 An example: theory of consumer choice 22

Part II A Taxonomy of Economic Theories 27

4 A Taxonomy of Economic Theories Based upon Intended Epistemological Status and Pragmatic Function 29

4.1 The intended models of a theory 31

4.2 Intendedly empirical theories 32

4.3 Non-intendedly empirical theories 35

4.4 Intended and actual epistemological status 36

4.5 Descriptive theories 37

4.6 Operative theories 38

4.7 Value judgments and value axioms: their place and form 40

5 A Taxonomy of Economic Theories: Application 46

5.1 Intendedly empirical descriptive theories 46

5.2 Non-intendedly empirical descriptive theories 47

5.3 Intendedly empirical operative theories 48

5.4 Non-intendedly empirical operative theories 49

Part III Empirical Economic Theories 53

6 General Characterization 55

6.1 Empirical structures and empirical theories 55

6.2 Analytic schemes I: hierarchic system of theories and models 56

6.2.1 Epistemological levels and logical types 58

6.2.2 Logical types and cores of empirical claims 61

6.3 Analytic schemes II: level-specific features of theories and models 64

6.3.1 The features of the axiom base 64

6.3.2 The cognitive goals and scope of the theory 66

6.3.3 The ontological and/or epistemological assumptions and hypotheses 67

6.3.4 The characterization of observables: place and specification 68

6.3.5 The overall linguistic features 69

6.3.6 The characteristics of structures and models 70

6.3.7 Methodological features 71

6.4 Analytic schemes III: the general case 72

6.5 Models and projections 73

7 Representational Theories and Theoretical Systems (I): Basic or General Theory and General-Class Theory 76

7.1 Basic or general theory: language and models 76

7.2 A basic or general theory: consumer choice in R[superscript l] 78

7.3 General-class theories: language and models 84

7.4 A general-class theory: stochastic theory of transitive consumer demand 85

8 Representational Theories and Theoretical Systems (II): Special-Class Theory and Data-Specific Theory 95

8.1 Special-class theories: language and models 95

8.2 A special-class theory: the direct translog demand system 97

8.3 Data-specific theory: language and model 108

8.4 A data-specific theory: an applied direct translog demand system 110

8.5 Inter-level theoretical links 121

9 Phenomenological Theories and Theoretical Systems (I): Generic and Data-Specific Theory 126

9.1 Generic theory: language and models 127

9.2 First example of a generic theory: linear input-output analysis 128

9.3 Second example of generic theory: a theory of cyclical growth 134

9.4 Data-specific theory: language and model 140

9.5 First example of a data-specific theory: an applied input-output system 141

9.6 Second example of a data-specific theory: an applied theory of cyclical growth 145

10 Phenomenological Theories and Theoretical Systems (II): Data-Contingent Theory 153

10.1 Data-contingent theory: language and model 153

10.2 Example one: a macroeconometric structural equation system 156

10.3 Example two: a macroeconometric vector autoregressive system 162

Part IV Non-Intendedly Empirical Economic Theories 171

11 Methodology of Non-Experimental Economic Research (I): On the Foundations of Non-Intendedly Empirical Theories 173

11.1 Economic experiment, experiment simulation and simulation experiment 174

11.2 Economics and the scope of the experimental method 178

11.3 Methodological foundations of non-intendedly empirical theories 182

12 Methodology of Non-Experimental Economic Research (II): Cognitive Functions of Non-Intendedly Empirical Theories 186

12.1 Non-intendedly empirical theories as analytic experiment simulations 186

12.2 Objectives of and approaches to analytic experiment simulations 188

12.3 The nucleus of a research programme: Arrow-Debreu theory and models 189

12.4 First kind of analytic experiment simulation: defining and redefining a structure 194

12.4.1 Characterizing competition: economies with 'many' agents 194

The core of a competitive economy 195

Edgeworth's conjecture 195

The rate of convergence of the core 196

12.4.2 Economies with 'many' commodities 196

12.4.3 The determinacy of equilibria 197

12.4.4 Equilibrium with alternative agents' characteristics 198

Preference relations and utility functions 198

Non-transitive, non-total consumers 198

12.4.5 Imaginary economic systems: alternative organizational settings 199

12.4.6 Imperfectly competitive economies 199

12.5 Second kind of analytic experiment simulation: modifying an internal structural property 201

12.5.1 Consumers without a 'survival warranty' 201

12.5.2 Externalities in consumption and production 201

12.5.3 Production without 'irreversible' activities 201

12.5.4 Production without 'free disposal' 201

12.5.5 Non-convexities I: economies with indivisible commodities 202

12.5.6 Non-convexities II: fixed costs and increasing returns to scale 202

12.6 Third kind of analytic experiment simulation: probing language and method 203

12.6.1 Probing the indispensableness of axioms 204

12.6.2 Probing the substitutability of axioms 204

12.6.3 Extending theoretical coverage 205

12.6.4 Investigating the smoothness of a dependence 205

12.6.5 Checking the robustness of a result 205

12.6.6 Testing for substantive invariance 206

12.6.7 Probing the adequacy of alternative mathematical languages 207

12.6.8 Construction of alternative proofs 207

12.6.9 Probing the descriptive power of alternative solution concepts 208

12.7 Toward empirical theories: applied computable general equilibrium 208.

Notes:

Includes bibliographical references (pages 211-224) and indexes.

ISBN:

0312174586

OCLC:

36301405