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Modeling model selection in model pluralism

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  • Till Grüne-Yanoff
  • Caterina Marchionni

Abstract

In his recent book, Rodrik [(2015). Economics rules. Why economics works, when it fails, and how to tell the difference. Oxford University Press] proposes an account of model pluralism according to which multiple models of the same target are acceptable as long as one model is more useful for one purpose and another is more useful for another purpose. How, then, is the right model for the purpose selected? Rodrik roughly outlines a selection procedure, which we formalize to enhance understanding of his account of model pluralism and to advance the critical discussion.

Suggested Citation

  • Till Grüne-Yanoff & Caterina Marchionni, 2018. "Modeling model selection in model pluralism," Journal of Economic Methodology, Taylor & Francis Journals, vol. 25(3), pages 265-275, July.
  • Handle: RePEc:taf:jecmet:v:25:y:2018:i:3:p:265-275
    DOI: 10.1080/1350178X.2018.1488572
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    Cited by:

    1. Walter Veit, 2019. "Modeling Morality," Papers 1907.08659, arXiv.org.
    2. 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.

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