Discussing 'realism' has been a growth industry lately. Where once we might have heard philosophers argue over realism vs idealism or vs instrumentalism. Today the discussion concerns various types of realism. Basically the main question is: do the model's assumptions represent realty, that is , represent real, objective world? In this paper I am going to apply critical realism to two aspects of the methodology of model building. In Section 1, I will criticize some common excuses given for accepting less than desirable realism in economic models. In section 2, I will discuss various obstacles to obtaining realistic economic models.
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Paper provided by Department of Economics, Simon Fraser University in its series Discussion Papers with number
dp99-5.
Length: 11 pages Date of creation: 1999 Date of revision: Handle: RePEc:sfu:sfudps:dp99-5
Contact details of provider: Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada Phone: (778)782-3508 Fax: (778)782-5944 Web page: http://www.econ.sfu.ca/ More information through EDIRC
Find related papers by JEL classification: B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
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