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Title: Marshall's Tendencies: What Can Economists Know? (Gaston Eyskens Lectures) by John Sutton ISBN: 0-262-69279-1 Publisher: MIT Press Pub. Date: 07 February, 2002 Format: Paperback Volumes: 1 List Price(USD): $14.95 |
Average Customer Rating: 5 (1 review)
Rating: 5
Summary: A nice illustration of the interpretation power of economics
Comment: The students who enter the field of economics, or any other social science disciplines that employ mathematical models in explaining the world around us, may start being suspicious about the explanation power of these models at some point. How could the messy and complex issues be reduced to ONE simple model?
Sutton's book is a very nice piece of work that would help resolve tthis puzzle. Start with the STANDARD PARADIGM commonly used in modeling complex issues in social sciences, particularly in economics, Sutton pins down the limitations of these paradigm in a very easy understanding yet profound way. The next chapter starts some models that work, from a game theoretical perspective. Chapter 3, however, emphasizes the difficulties of constructing a complete model. Finally, the last chapter provides a vivid example of Sutton's argument regarding the pitfalls of modeling and its application in real life.
This nice little book is by far the best I have read in terms of explaining why social sciences are so messy, even with the introduction of nice, elegant mathematical models. It is hard to find "black-and-write" answers in social science, indeed. However, bearing in mind the importance and limitation of using mathematical models would help social scientists face the and frustration in a constructive way.
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Title: Technology and Market Structure: Theory and History by John Sutton ISBN: 0262692643 Publisher: MIT Press Pub. Date: 01 March, 2001 List Price(USD): $45.00 |
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Title: Frontiers of Development Economics: The Future in Perspective by Gerald M. Meier, Joseph E. Stiglitz, Nicholas Stern ISBN: 0195215923 Publisher: World Bank Pub. Date: May, 2000 List Price(USD): $35.00 |
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Title: An Introduction to the Economics of Information: Incentives and Contracts by Ines MacHo-Stadler, J. David Perez-Castrillo, Richard Watt ISBN: 0199243255 Publisher: Oxford Press Pub. Date: February, 2001 List Price(USD): $35.00 |
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Title: Capitalism, Socialism, and Democracy by Joseph A. Schumpeter ISBN: 0061330086 Publisher: Perennial Pub. Date: 21 December, 1962 List Price(USD): $16.00 |
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Title: Development as Freedom by Amartya Sen ISBN: 0385720270 Publisher: Anchor Pub. Date: 15 August, 2000 List Price(USD): $15.00 |
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