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A formal model of theory choice in science

Author

Listed:
  • William A. Brock

    (Department of Economics, University of Wisconsin, 1180 Observatory Drive, Madison, WI 53706 USA)

  • Steven N. Durlauf

    (Department of Economics, University of Wisconsin, 1180 Observatory Drive, Madison, WI 53706 USA)

Abstract

Since the work of Thomas Kuhn, the role of social factors in the scientific enterprise has been a major concern in the philosophy and history of science. In particular, conformity effects among scientists have been used to question whether science naturally progresses over time. Using neoclassical economic reasoning, this paper develops a formal model of scientific theory choice which incorporates social factors. Our results demonstrate that the influence of social factors on scientific progress is more complex than previously thought. The patterns of theory choice predicted by the model seem consistent with historical episodes of theory change.

Suggested Citation

  • William A. Brock & Steven N. Durlauf, 1999. "A formal model of theory choice in science," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(1), pages 113-130.
    • Handle: RePEc:spr:joecth:v:14:y:1999:i:1:p:113-130
    Note: Received: April 8, 1997; revised version: April 30, 1998
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    Keywords

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    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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