Item Details

Model Building in Economics: Its Purposes and Limitations

Lawrence A. Boland (Simon Fraser University, Canada)
Format
Book
Published
New York, NY, USA : Cambridge University Press, 2014.
Language
English
ISBN
9781107032941, 1107032946, 9781107673472
Summary
"Concern about the role and the limits of modeling has heightened after repeated questions were raised regarding the dependability and suitability of the models that were used in the run-up to the 2008 financial crash. In this book, Lawrence Boland provides an overview of the practices of and the problems faced by model builders to explain the nature of models, the modeling process, and the possibility for and nature of their testing. In a reflective manner, the author raises serious questions about the assumptions and judgments that model builders make in constructing models. In making his case, he examines the traditional microeconomics-macroeconomics separation with regard to how theoretical models are built and used and how they interact, paying particular attention to the use of equilibrium concepts in macroeconomic models and game theory and to the challenges involved in building empirical models, testing models, and using models to test theoretical explanations. Lawrence Boland has been teaching at Simon Fraser University since 1966. He has also taught at the University of Wisconsin-Milwaukee and was a visiting professor in the department of economics at Boston University. At Capilano College and Vancouver Community College, he taught introductory sociology. He is a Fellow of the Royal Society of Canada. Dr. Boland has published six books on economic methodology, including The Foundations of Economic Method: A Popperian Perspective (2003); The Principles of Economics: Some Lies My Teachers Told Me (1992); and The Methodology of Economic Model Building: Methodology after Samuelson (1989)"--
Contents
  • 1. Microeconomic versus macroeconomic theoretical model building
  • 2. On the limitations of equilibrium models in general
  • 3. On building theoretical models using game theory
  • 4. On the purpose and limitations of game-theoretic models
  • 5. Microeconomic versus macroeconomic empirical model building
  • 6. On building macro-econometric models
  • 7. Modeling and forecasting
  • 8. On the role and limitations of experimental and behavioural economics
  • 9. The logical adequacy of convincing tests of models using empirical data
  • 10. The statistical adequacy of convincing tests of models using empirical data
  • 11. Model building from a philosophy of science perspective
  • 12. Choosing model-building methods.
Description
xix, 276 pages : illustration ; 24 cm
Notes
Includes bibliographical references (pages 253-267) and indexes.
Technical Details
  • Access in Virgo Classic

  • LEADER 03923cam a2200517 i 4500
    001 u6423472
    003 SIRSI
    005 20141009133915.0
    008 140321t20142014nyua b 001 0 eng
    010
      
      
    a| 2014009762
    020
      
      
    a| 9781107032941 q| hardback
    020
      
      
    a| 1107032946 q| hardback
    020
      
      
    a| 9781107673472 q| paperback
    035
      
      
    a| (Sirsi) o881386440
    035
      
      
    a| (OCoLC)881386440
    042
      
      
    a| pcc
    040
      
      
    a| DLC b| eng e| rda c| DLC d| OCLCO d| OCLCF d| YDXCP d| CDX
    050
    0
    4
    a| HB141 b| .B64 2014
    082
    0
    0
    a| 330.01/5195 2| 23
    084
      
      
    a| BUS023000 2| bisacsh
    100
    1
      
    a| Boland, Lawrence A. e| author.
    245
    1
    0
    a| Model building in economics : b| its purposes and limitations / c| Lawrence A. Boland (Simon Fraser University, Canada).
    264
      
    1
    a| New York, NY, USA : b| Cambridge University Press, c| 2014.
    264
      
    4
    c| ©2014
    300
      
      
    a| xix, 276 pages : b| illustration ; c| 24 cm
    336
      
      
    a| text 2| rdacontent
    337
      
      
    a| unmediated 2| rdamedia
    338
      
      
    a| volume 2| rdacarrier
    504
      
      
    a| Includes bibliographical references (pages 253-267) and indexes.
    505
      
      
    a| 1. Microeconomic versus macroeconomic theoretical model building -- 2. On the limitations of equilibrium models in general -- 3. On building theoretical models using game theory -- 4. On the purpose and limitations of game-theoretic models -- 5. Microeconomic versus macroeconomic empirical model building -- 6. On building macro-econometric models -- 7. Modeling and forecasting -- 8. On the role and limitations of experimental and behavioural economics -- 9. The logical adequacy of convincing tests of models using empirical data -- 10. The statistical adequacy of convincing tests of models using empirical data -- 11. Model building from a philosophy of science perspective -- 12. Choosing model-building methods.
    520
      
      
    a| "Concern about the role and the limits of modeling has heightened after repeated questions were raised regarding the dependability and suitability of the models that were used in the run-up to the 2008 financial crash. In this book, Lawrence Boland provides an overview of the practices of and the problems faced by model builders to explain the nature of models, the modeling process, and the possibility for and nature of their testing. In a reflective manner, the author raises serious questions about the assumptions and judgments that model builders make in constructing models. In making his case, he examines the traditional microeconomics-macroeconomics separation with regard to how theoretical models are built and used and how they interact, paying particular attention to the use of equilibrium concepts in macroeconomic models and game theory and to the challenges involved in building empirical models, testing models, and using models to test theoretical explanations. Lawrence Boland has been teaching at Simon Fraser University since 1966. He has also taught at the University of Wisconsin-Milwaukee and was a visiting professor in the department of economics at Boston University. At Capilano College and Vancouver Community College, he taught introductory sociology. He is a Fellow of the Royal Society of Canada. Dr. Boland has published six books on economic methodology, including The Foundations of Economic Method: A Popperian Perspective (2003); The Principles of Economics: Some Lies My Teachers Told Me (1992); and The Methodology of Economic Model Building: Methodology after Samuelson (1989)"-- c| Provided by publisher.
    650
      
    0
    a| Econometric models.
    650
      
    0
    a| Economics.
    596
      
      
    a| 2
    999
      
      
    a| HB141 .B64 2014 w| LC i| X031651373 k| CHECKEDOUT l| STACKS m| ALDERMAN t| BOOK

Availability

Google Preview

Library Location Map Availability Call Number
Alderman CHECKED OUT N/A Unavailable