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The diversity of models as a means to better explanations in economics

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  • N. Emrah Aydinonat

Abstract

In Economics Rules, Rodrik [(2015). Economics rules: Why economics works, when it fails, and how to tell the difference. Oxford: Oxford University Press] argues that what makes economics powerful despite the limitations of each and every model is its diversity of models. Rodrik suggests that the diversity of models in economics improves its explanatory capacities, but he does not fully explain how. I offer a clearer picture of how models relate to explanations of particular economic facts or events, and suggest that the diversity of models is a means to better economic explanations.

Suggested Citation

  • N. Emrah Aydinonat, 2018. "The diversity of models as a means to better explanations in economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 25(3), pages 237-251, July.
    • Handle: RePEc:taf:jecmet:v:25:y:2018:i:3:p:237-251
    DOI: 10.1080/1350178X.2018.1488478
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    Cited by:

    1. Suvrat Dhanorkar & Suresh Muthulingam, 2020. "Do E‐Waste Laws Create Behavioral Spillovers? Quasi‐Experimental Evidence from California," Production and Operations Management, Production and Operations Management Society, vol. 29(7), pages 1738-1766, July.
    2. Walter Veit, 2019. "Modeling Morality," Papers 1907.08659, arXiv.org.
    3. Franck Bailly, 2022. "When mainstream economics does human resource management: a critique of personnel economics’ prescriptive ambition," Post-Print hal-03711945, HAL.
    4. Andrea Salanti, 2020. "All That Glitters Is Not Gold: The Case of Mainstream Pluralism," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 54(2), pages 287-310, December.
    5. Claudius Graebner, 2019. "Unrealistic models and how to identify them: on accounts of model realisticness," ICAE Working Papers 90, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.

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