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A Formal Model of Theory Choice in Science

Author

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  • William A. Brock
  • Steven N. Durlauf

Abstract

Since the classic work of Feyerabend and Kuhn, the role of social factors in the scientific enterprise has been a major concern in the philosophy and history of science. In particular, the presence of social factors such as the desire for prestige or pressures to conform to accepted ideas, have been regarded as reasons to question whether science naturally progresses toward a more and more accurate approximations of reality. In this paper, we propose a formal model of theory choice which incorporates private and social influences. We provide a characterization of the interaction of social factors with theory choice. Our results demonstrate that the influence of social factors on scientific progress is far more complex than is typically assumed. In particular, we provide conditions under which social influences actually enhance the rate at which a superior theory replaces its inferior predecessor. Further, social interactions are shown to provide a theoretical model which is consistent with some broad empirical aspects of the pattern of scientific theory evolution.

Suggested Citation

  • William A. Brock & Steven N. Durlauf, 1997. "A Formal Model of Theory Choice in Science," Research in Economics 97-04-031e, Santa Fe Institute.
  • Handle: RePEc:wop:safire:97-04-031e
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    References listed on IDEAS

    as
    1. Blume Lawrence E., 1993. "The Statistical Mechanics of Strategic Interaction," Games and Economic Behavior, Elsevier, vol. 5(3), pages 387-424, July.
    2. Brock, W.A. & Durlauf, S.N., 1995. "Discrete Choice with Social Interactions I: Theory," Working papers 9521, Wisconsin Madison - Social Systems.
    3. ANDERSON, Simon P. & de PALMA, André & THISSE, Jacques-François, 1992. "Interpretations of the logit discrete choice models and the theory of product differentiation," LIDAM Reprints CORE 1017, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    discrete choice; theory evaluation; philosophy of science;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School

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