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The Philosophy of Causality in Economics

The Philosophy of Causality in Economics
Author: Mariusz Maziarz
Publisher: Routledge
Total Pages: 223
Release: 2020-05-13
Genre: Business & Economics
ISBN: 1000069109

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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.


Mechanism and Causality in Biology and Economics

Mechanism and Causality in Biology and Economics
Author: Hsiang-Ke Chao
Publisher: Springer Science & Business Media
Total Pages: 256
Release: 2013-07-31
Genre: Philosophy
ISBN: 9400724543

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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.


Hunting Causes and Using Them

Hunting Causes and Using Them
Author: Nancy Cartwright
Publisher:
Total Pages: 270
Release: 2007
Genre: Causation
ISBN: 9780511285592

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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.


Causality

Causality
Author: Judea Pearl
Publisher: Cambridge University Press
Total Pages: 487
Release: 2009-09-14
Genre: Computers
ISBN: 052189560X

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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 ...


Philosophy of Economics

Philosophy of Economics
Author: Uskali Mäki
Publisher: Elsevier
Total Pages: 929
Release: 2012-06-12
Genre: Business & Economics
ISBN: 044451676X

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Part of the Handbook of the Philosophy of Science Series edited by: Dov M. Gabbay King's College, London, UK; Paul Thagard University of Waterloo, Canada; and John Woods University of British Columbia, Canada. Philosophy of Economics investigates the foundational concepts and methods of economics, the social science that analyzes the production, distribution and consumption of goods and services. This groundbreaking collection, the most thorough treatment of the philosophy of economics ever published, brings together philosophers, scientists and historians to map out the central topics in the field. The articles are divided into two groups. Chapters in the first group deal with various philosophical issues characteristic of economics in general, including realism and Lakatos, explanation and testing, modeling and mathematics, political ideology and feminist epistemology. Chapters in the second group discuss particular methods, theories and branches of economics, including forecasting and measurement, econometrics and experimentation, rational choice and agency issues, game theory and social choice, behavioral economics and public choice, geographical economics and evolutionary economics, and finally the economics of scientific knowledge. This volume serves as a detailed introduction for those new to the field as well as a rich source of new insights and potential research agendas for those already engaged with the philosophy of economics. Provides a bridge between philosophy and current scientific findings Encourages multi-disciplinary dialogue Covers theory and applications


Causality in Macroeconomics

Causality in Macroeconomics
Author: Kevin D. Hoover
Publisher: Cambridge University Press
Total Pages: 330
Release: 2001-08-13
Genre: Business & Economics
ISBN: 9780521002882

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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.


The Oxford Handbook of Causation

The Oxford Handbook of Causation
Author: Helen Beebee
Publisher: OUP Oxford
Total Pages: 816
Release: 2012-01-12
Genre: Philosophy
ISBN: 0191629464

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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.


Hunting Causes and Using Them

Hunting Causes and Using Them
Author: Nancy Cartwright
Publisher: Cambridge University Press
Total Pages: 250
Release: 2007-05-31
Genre: Science
ISBN: 1139462547

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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.


The Oxford Handbook of Philosophy of Economics

The Oxford Handbook of Philosophy of Economics
Author: Harold Kincaid
Publisher: Oxford Handbooks
Total Pages: 689
Release: 2009-03-26
Genre: Business & Economics
ISBN: 0195189256

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This volume is the first comprehensive, cohesive, and accessible reference source to the philosophy of economics, presenting important new scholarship by top scholars.


Causality in Economics

Causality in Economics
Author: Sir John Richard Hicks
Publisher:
Total Pages: 124
Release: 1979
Genre: Causalidad
ISBN: 9780631114819

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