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Models, Mathematics, and Methodology in Economic Explanation

$122.00 (C)

  • Date Published: November 2017
  • availability: Available
  • format: Hardback
  • isbn: 9781108418775

$ 122.00 (C)

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About the Authors
  • This book provides a practitioner's foundation for the process of explanatory model building, breaking down that process into five stages. Donald W. Katzner presents a concrete example with unquantified variable values to show how the five-stage procedure works. He describes what is involved in explanatory model building for those interested in this practice, while simultaneously providing a guide for those actually engaged in it. The combination of Katzner's focus on modeling and on mathematics, along with his focus on the explanatory performance of modeling, promises to become an important contribution to the field.

    • The process of explanatory model building is broken down methodologically into a five-stage sequence of steps
    • Application of the five stages is set out in detail and illustrated by a highly particularized example
    • The role of mathematics in model building is examined historically and explored in terms of unquantified variables
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    Reviews & endorsements

    'Professor Katzner has written a brilliant book: engaging, rigorous, and thought-provoking. It should sit on the desk of every economist and Ph.D. student in economics who wishes to tackle issues of contemporary relevance with the rigor and clarity that ought to characterize economics as a social science.' Roberto Veneziani, Queen Mary University of London

    'Katzner has written an original and important contribution to the literature on the methodology of economic modeling from a perspective that is seldom represented.' D. Wade Hands, University of Puget Sound, Washington

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    Product details

    • Date Published: November 2017
    • format: Hardback
    • isbn: 9781108418775
    • length: 258 pages
    • dimensions: 235 x 156 x 18 mm
    • weight: 0.5kg
    • contains: 3 b/w illus.
    • availability: Available
  • Table of Contents

    1. Science and economics
    2. Economic models and explanation
    3. The stages of model building in economics
    4. Models and mathematics
    5. Models and measurement (or lack thereof)
    6. Issues relating to the construction of models from scratch
    7. An example: the efficiency of organizational forms
    8. The implicit assumption requirements of later-stage model building
    9. Ordinality and the adequacy of analytic specification
    10. Categories of models
    11. Conclusion.

  • Author

    Donald W. Katzner, University of Massachusetts, Amherst
    Donald W. Katzner is Professor of Economics and former Department Chair at the University of Massachusetts, Amherst. His published research has spanned several areas, including: microeconomic and general equilibrium theory; the methodology of building models and of analyzing phenomena when measures of appropriate variables are neither available nor reasonably constructible; the analysis of uncertain economic phenomena when it is inappropriate to employ notions of probability; the impact of culture on economic behavior; and organizational issues within the economic firm.

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