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Formalism in Economics: Perspectives from Philosophy of Mathematics

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  • Marino, Patricia

Abstract

This paper engages with recent work on formalization in economics to develop a new perspective on mathematization. Boylan and O’Gorman draw on foundations of mathematics to argue that classical mathematics is inappropriate for economics; intuitionistic foundations and constructive mathematics should be used instead. The use of real analysis would be blocked and equilibrium results undermined. I argue that their line of thought faces several challenges; however, I then draw on their analyses and the philosophy of applied mathematics to propose a novel approach in which questions about mathematization are properly understood as questions about the contextual aptness of relevant idealizations.

Suggested Citation

  • Marino, Patricia, 2026. "Formalism in Economics: Perspectives from Philosophy of Mathematics," Economics and Philosophy, Cambridge University Press, vol. 42(3), pages -9, November.
    • Handle: RePEc:cup:ecnphi:v:42:y:2026:i:3:p:_9
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