Harold Ch11.indd
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چکیده
The models of microeconomics are famously idealized and have a famously spotty predictive record. Yet recent years have seen some tremendous successes in using these models to construct reliable economic institutions. The focus of this chapter is one such institution, namely, spectrum auctions—now used all over Europe and North America to distribute licenses to telecommunications fi rms. This has been seen as a great triumph for game theory in particular. We shall explore the implications of this case for a venerable issue in philosophy of science, namely, the status of idealized models. What is the contribution of such models to empirical successes? We then use the lessons drawn from the spectrum auction to shed light, in turn, on a second venerable issue, namely, scientifi c progress. In particular, we explore the question, Is there progress in economics? And if so, what form does it take?
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تاریخ انتشار 2008