This paper investigates the relationship between methodological individualism (MI) and Agent-Based Simulation (ABS). We discuss and analyze a thesis defended by philosophers Caterina Marchionni and Petri Ylikoski (2013). The thesis maintains that, since MI is often considered to be a...

Historians of economic thought are paying greater attention to issues of social ontology (that is, to the assumptions that economists make about the nature of social reality). In this paper, we contribute to this burgeoning literature by exploring the hitherto neglected way in which James...

In recent years, the economic approach to human behavior has been challenged by contributions of cognitive science. Thus two methodological strands in economics disagree with each other: the objectivistic approach favors the methods of natural science; the subjectivistic approach takes the...

Carl Menger’s Principles of Economics, published in 1871, is usually regarded as the founding document of the Austrian School of economics. Many of the School’s prominent representatives, including Friedrich Wieser, Eugen Böhm-Bawerk, Ludwig Mises, Hans Mayer, Friedrich August Hayek, Fritz...

This paper investigates the relationship between methodological individualism (MI) and Agent-Based Simulation (ABS). We discuss and analyze a thesis defended by philosophers Caterina Marchionni and Petri Ylikoski (2013). The thesis maintains that, since MI is often considered to be a...

Caldwell's Beyond Positivism was a key publication that helped to precipitate the consolidation of the methodology of economics into a distinct subfield within economics. Reconsidering it after thirty-five years, it is striking for its anti-naturalism (i.e., its lack of deference to the actual...

The economic paradigms of Ludwig von Mises on the one hand and of John Maynard Keynes on the other have been correctly recognized as antithetical at the theoretical level, and as antagonistic with respect to their practical and public policy implications. Characteristically they have also been...

Carl Menger published his classic work Principles of Economics in 1871, that work is the founding text of what came known as the “Austrian School of Economics”. That label has now been used to describe a historical school of thought, as well as contemporary academic economists and public...

In diesem Beitrag werden die Grundzüge der Überinvestitionstheorien von Hyman Minsky auf der einen und die von v. Hayek/Garrison auf der anderen Seite zunächst in den 'Sprachen' der Originalbeiträge herausgearbeitet. Anschließend wird ihr möglicher Erklärungsbeitrag für die aktuelle...

Neo-Austrian modelling is still a relatively unfamiliar technique to many ecological economists, although there is now a significant body of published work on the method and its applications. In this paper we aim to introduce the method, offering a rather brief sketch of its history, indicating...