Models as ‘analytical similes’: on Nicholas Georgescu-Roegen's contribution to economic methodology

Contribution to AL3 AOSE TFG: INGENIAS methodology and meta-models

The purpose of INGENIAS is the definition of a methodology for the development of MAS, by integrating results from research in the area of agent technology with a well-established software development process, which in this case is the Rational Unified Process (RUP). This methodology is based on the definition of a set of meta-models that describe the elements that form a MAS from several viewp...

Random Coefficient Models ∗ Nicholas

The Contribution of Economic Data to Bank-Failure Models

This working paper reports the details of one part of a three-part study done in close collaboration with John O'Keefe and Katherine Samolyk. See Nuxoll, O'Keefe, and Samolyk (2003). While each author had primary responsibility for one part of that study, many of the ideas in this part were developed in close collaboration with O'Keefe and Samolyk. The opinions expressed here are the author's a...

A Study on the Contribution of Foreign Direct Investment to Economic Growth in Afghanistan

Foreign Direct Investment (FDI) is frequently regarded as a key driver of global economic integration because it brings job opportunities, capital investment, and business experience. The current study examines the impact of foreign direct investment on Afghanistan's economic growth using time-series data from 2007 to 2019, which are collected from the World Bank and the International Monetary ...

Economic Models as Analogies*

People often wonder why economists analyse models whose assumptions are known to be false, while economists feel that they learn a lot from such exercises. We suggest that part of the knowledge generated by academic economists is case-based rather than rule-based. That is, instead of offering general rules or theories that should be contrasted with data, economists often analyse models that are...