Download or read book The Philosophy of Causality in Economics written by Mariusz Maziarz and published by Routledge. This book was released on 2020-05-13 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Approximately one in six top economic research papers draws an explicitly causal conclusion. But what do economists mean when they conclude that A ‘causes’ B? Does ‘cause’ say that we can influence B by intervening on A, or is it only a label for the correlation of variables? Do quantitative analyses of observational data followed by such causal inferences constitute sufficient grounds for guiding economic policymaking? The Philosophy of Causality in Economics addresses these questions by analyzing the meaning of causal claims made by economists and the philosophical presuppositions underlying the research methods used. The book considers five key causal approaches: the regularity approach, probabilistic theories, counterfactual theories, mechanisms, and interventions and manipulability. Each chapter opens with a summary of literature on the relevant approach and discusses its reception among economists. The text details case studies, and goes on to examine papers which have adopted the approach in order to highlight the methods of causal inference used in contemporary economics. It analyzes the meaning of the causal claim put forward, and finally reconstructs the philosophical presuppositions accepted implicitly by economists. The strengths and limitations of each method of causal inference are also considered in the context of using the results as evidence for policymaking. This book is essential reading to those interested in literature on the philosophy of economics, as well as the philosophy of causality and economic methodology in general.
Download or read book Mechanism and Causality in Biology and Economics written by Hsiang-Ke Chao and published by Springer Science & Business Media. This book was released on 2013-07-31 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume addresses fundamental issues in the philosophy of science in the context of two most intriguing fields: biology and economics. Written by authorities and experts in the philosophy of biology and economics, Mechanism and Causality in Biology and Economics provides a structured study of the concepts of mechanism and causality in these disciplines and draws careful juxtapositions between philosophical apparatus and scientific practice. By exploring the issues that are most salient to the contemporary philosophies of biology and economics and by presenting comparative analyses, the book serves as a platform not only for gaining mutual understanding between scientists and philosophers of the life sciences and those of the social sciences, but also for sharing interdisciplinary research that combines both philosophical concepts in both fields. The book begins by defining the concepts of mechanism and causality in biology and economics, respectively. The second and third parts investigate philosophical perspectives of various causal and mechanistic issues in scientific practice in the two fields. These two sections include chapters on causal issues in the theory of evolution; experiments and scientific discovery; representation of causal relations and mechanism by models in economics. The concluding section presents interdisciplinary studies of various topics concerning extrapolation of life sciences and social sciences, including chapters on the philosophical investigation of conjoining biological and economic analyses with, respectively, demography, medicine and sociology.
Download or read book The Nature and Method of Economic Sciences written by Ricardo F Crespo and published by Routledge. This book was released on 2021-09-30 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nature and Method of Economic Sciences: Evidence, Causality, and Ends argues that economic phenomena can be examined from five analytical levels: a statistical descriptive approach, a causal explanatory approach, a teleological explicative approach, a normative approach and, finally, the level of application. The above viewpoints are undertaken by different but related economic sciences, including statistics and economic history, positive economics, normative economics, and the 'art of political economy'. Typically, positive economics has analysed economic phenomena using the second approach, causally explaining and often trying to predict the future evolution of the economy. It has not been concerned with the ends selected by the individual or society, taking them as given. However, various new economic currents have emerged during the last 40 years, and some of these do assign a fundamental role to ends within economics. This book argues that the field of positive economics should adapt to deal with the issues that arise from this. The text attempts to discern the nature of economic phenomena, introducing the different approaches and corresponding economic sciences. It goes on to analyse the epistemological characteristics of these in the subsequent chapters, as well as their disciplinary interrelations. This book is a valuable resource for students and scholars of the social sciences, philosophy, and the philosophy of economics. It will also be of interest to those researching political economy and the development of economic thought.
Download or read book Causality in Macroeconomics written by Kevin D. Hoover and published by Cambridge University Press. This book was released on 2001-08-13 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 2001, Causality in Macroeconomics addresses the long-standing problems of causality while taking macroeconomics seriously. The practical concerns of the macroeconomist and abstract concerns of the philosopher inform each other. Grounded in pragmatic realism, the book rejects the popular idea that macroeconomics requires microfoundations, and argues that the macroeconomy is a set of structures that are best analyzed causally. Ideas originally due to Herbert Simon and the Cowles Commission are refined and generalized to non-linear systems, particularly to the non-linear systems with cross-equation restrictions that are ubiquitous in modern macroeconomic models with rational expectations (with and without regime-switching). These ideas help to clarify philosophical as well as economic issues. The structural approach to causality is then used to evaluate more familiar approaches to causality due to Granger, LeRoy and Glymour, Spirtes, Scheines and Kelly, as well as vector autoregressions, the Lucas critique, and the exogeneity concepts of Engle, Hendry and Richard.
Download or read book Causality written by Judea Pearl and published by Cambridge University Press. This book was released on 2009-09-14 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: Causality offers the first comprehensive coverage of causal analysis in many sciences, including recent advances using graphical methods. Pearl presents a unified account of the probabilistic, manipulative, counterfactual and structural approaches to causation, and devises simple mathematical tools for analyzing the relationships between causal connections, statistical associations, actions and observations. The book will open the way for including causal analysis in the standard curriculum of statistics, artificial intelligence ...
Download or read book The Methodology of Experimental Economics written by Francesco Guala and published by Cambridge University Press. This book was released on 2005-08-01 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: The experimental approach in economics is a driving force behind some of the most exciting developments in the field. The 'experimental revolution' was based on a series of bold philosophical premises which have remained until now mostly unexplored. This book provides the first comprehensive analysis and critical discussion of the methodology of experimental economics, written by a philosopher of science with expertise in the field. It outlines the fundamental principles of experimental inference in order to investigate their power, scope and limitations. The author demonstrates that experimental economists have a lot to gain by discussing openly the philosophical principles that guide their work, and that philosophers of science have a lot to learn from their ingenious techniques devised by experimenters in order to tackle difficult scientific problems.
Download or read book The Oxford Handbook of Philosophy of Economics written by Harold Kincaid and published by Oxford Handbooks Online. This book was released on 2009-03-26 with total page 689 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is the first comprehensive, cohesive, and accessible reference source to the philosophy of economics, presenting important new scholarship by top scholars.
Download or read book Philosophy of Economics written by Julian Reiss and published by Routledge. This book was released on 2013-07-15 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Philosophy of Economics: A Contemporary Introduction is the first systematic textbook in the philosophy of economics. It introduces the epistemological, metaphysical and ethical problems that arise in economics, and presents detailed discussions of the solutions that have been offered. Throughout, philosophical issues are illustrated by and analysed in the context of concrete cases drawn from contemporary economics, the history of economic ideas, and actual economic events. This demonstrates the relevance of philosophy of economics both for the science of economics and for the economy. This text will provide an excellent introduction to the philosophy of economics for students and interested general readers alike.
Download or read book Causality and Causal Modelling in the Social Sciences written by Federica Russo and published by Springer Science & Business Media. This book was released on 2008-09-18 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This investigation into causal modelling presents the rationale of causality, i.e. the notion that guides causal reasoning in causal modelling. It is argued that causal models are regimented by a rationale of variation, nor of regularity neither invariance, thus breaking down the dominant Human paradigm. The notion of variation is shown to be embedded in the scheme of reasoning behind various causal models. It is also shown to be latent – yet fundamental – in many philosophical accounts. Moreover, it has significant consequences for methodological issues: the warranty of the causal interpretation of causal models, the levels of causation, the characterisation of mechanisms, and the interpretation of probability. This book offers a novel philosophical and methodological approach to causal reasoning in causal modelling and provides the reader with the tools to be up to date about various issues causality rises in social science.
Download or read book Hunting Causes and Using Them written by Nancy Cartwright and published by Cambridge University Press. This book was released on 2007-05-31 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hunting Causes and Using Them argues that causation is not one thing, as commonly assumed, but many. There is a huge variety of causal relations, each with different characterizing features, different methods for discovery and different uses to which it can be put. In this collection of new and previously published essays, Nancy Cartwright provides a critical survey of philosophical and economic literature on causality, with a special focus on the currently fashionable Bayes-nets and invariance methods - and it exposes a huge gap in that literature. Almost every account treats either exclusively how to hunt causes or how to use them. But where is the bridge between? It's no good knowing how to warrant a causal claim if we don't know what we can do with that claim once we have it. This book will interest philosophers, economists and social scientists.
Download or read book The Oxford Handbook of Causation written by Helen Beebee and published by OUP Oxford. This book was released on 2012-01-12 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt: Causation is a central topic in many areas of philosophy. In metaphysics, philosophers want to know what causation is, and how it is related to laws of nature, probability, action, and freedom of the will. In epistemology, philosophers investigate how causal claims can be inferred from statistical data, and how causation is related to perception, knowledge and explanation. In the philosophy of mind, philosophers want to know whether and how the mind can be said to have causal efficacy, and in ethics, whether there is a moral distinction between acts and omissions and whether the moral value of an act can be judged according to its consequences. And causation is a contested concept in other fields of enquiry, such as biology, physics, and the law. This book provides an in-depth and comprehensive overview of these and other topics, as well as the history of the causation debate from the ancient Greeks to the logical empiricists. The chapters provide surveys of contemporary debates, while often also advancing novel and controversial claims; and each includes a comprehensive bibliography and suggestions for further reading. The book is thus the most comprehensive source of information about causation currently available, and will be invaluable for upper-level undergraduates through to professional philosophers.
Download or read book Error in Economics written by Julian Reiss and published by Routledge. This book was released on 2016-02-04 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the correct concept behind measures of inflation? Does money cause business activity or is it the other way around? Shall we stimulate growth by raising aggregate demand or rather by lowering taxes and thereby providing incentives to produce? Policy-relevant questions such as these are of immediate and obvious importance to the welfare of societies. The standard approach in dealing with them is to build a model, based on economic theory, answer the question for the model world and then apply the results to economic phenomena outside. Data come in, if at all, only in testing a limited number of the model's consequences. Despite some critical voices, economic methodology too has by and large subscribed to a "theory first" approach to applied economics. Error in Economics systematically develops an alternative to the theory-based orthodoxy. It places the methodical study of evidence at the centre of the scientific enterprise and thus provides a foundation for a methodology of evidence-based economics. But the book does not stop at the truism that claims should be based on the best available evidence. Rather, detailed studies in the areas of measurement, causal inference and policy analysis show what it means for a claim to be evidence-based in the context of a concrete case. The examples discussed concern topics as diverse as consumer price indices, radio spectrum auctions, the transmission mechanism, natural experiments on minimum wages and the evaluation of counterfactuals for policy. Error in Economics is essential reading for economic methodologists, philosophers of science and anyone interested in how claims about socio-economic matters are validated.
Download or read book Essays on Philosophy and Economic Methodology written by Daniel M. Hausman and published by Cambridge University Press. This book was released on 1992-11-27 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection brings together the essays of one of the foremost American philosophers of economics. Cumulatively they offer fresh perspectives on foundational questions such as: what sort of science is economics? and how successful can economists be in acquiring knowledge of their subject matter?
Download or read book Actual Causality written by Joseph Y. Halpern and published by MIT Press. This book was released on 2016-08-12 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores actual causality, and such related notions as degree of responsibility, degree of blame, and causal explanation. The goal is to arrive at a definition of causality that matches our natural language usage and is helpful, for example, to a jury deciding a legal case, a programmer looking for the line of code that cause some software to fail, or an economist trying to determine whether austerity caused a subsequent depression.
Download or read book The Routledge Handbook of the Philosophy of Economics written by Conrad Heilmann and published by Routledge. This book was released on 2021-11-29 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most fundamental questions of economics are often philosophical in nature, and philosophers have, since the very beginning of Western philosophy, asked many questions that current observers would identify as economic. The Routledge Handbook of Philosophy of Economics is an outstanding reference source for the key topics, problems, and debates at the intersection of philosophical and economic inquiry. It captures this field of countless exciting interconnections, affinities, and opportunities for cross-fertilization. Comprising 35 chapters by a diverse team of contributors from all over the globe, the Handbook is divided into eight sections: I. Rationality II. Cooperation and Interaction III. Methodology IV. Values V. Causality and Explanation VI. Experimentation and Simulation VII. Evidence VIII. Policy The volume is essential reading for students and researchers in economics and philosophy who are interested in exploring the interconnections between the two disciplines. It is also a valuable resource for those in related fields like political science, sociology, and the humanities.
Download or read book Causality written by Phyllis Illari and published by OUP Oxford. This book was released on 2014-10-02 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: Head hits cause brain damage - but not always. Should we ban sport to protect athletes? Exposure to electromagnetic fields is strongly associated with cancer development - does that mean exposure causes cancer? Should we encourage old fashioned communication instead of mobile phones to reduce cancer rates? According to popular wisdom, the Mediterranean diet keeps you healthy. Is this belief scientifically sound? Should public health bodies encourage consumption of fresh fruit and vegetables? Severe financial constraints on research and public policy, media pressure, and public anxiety make such questions of immense current concern not just to philosophers but to scientists, governments, public bodies, and the general public. In the last decade there has been an explosion of theorizing about causality in philosophy, and also in the sciences. This literature is both fascinating and important, but it is involved and highly technical. This makes it inaccessible to many who would like to use it, philosophers and scientists alike. This book is an introduction to philosophy of causality - one that is highly accessible: to scientists unacquainted with philosophy, to philosophers unacquainted with science, and to anyone else lost in the labyrinth of philosophical theories of causality. It presents key philosophical accounts, concepts and methods, using examples from the sciences to show how to apply philosophical debates to scientific problems.
Download or read book Bayesian Nets and Causality Philosophical and Computational Foundations written by Jon Williamson and published by Oxford University Press. This book was released on 2005 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bayesian nets are used in artificial intelligence as a calculus for causal reasoning, enabling machines to make predictions perform diagnoses, take decisions and even to discover causal relationships. This book brings together how to automate reasoning in artificial intelligence, and the nature of causality and probability in philosophy.
