In conjunction with its tercentenary celebrations in 1968, Sveriges Riksbank (Bank of Sweden) instituted a new award, 'The Central Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel' on the basis of an economic commitment by the bank in perpetuity. The award is given by the...

Econometricians tend to hold simultaneously two views in tension with each other: an apparent anti-realism that holds that all models are false and at best useful constructs or approximations to true models and an apparent realism that models are to be judged by their success at capturing an...

This paper considers the role of theory in our understanding of economic phenomena. While theoretical findings are sometimes claimed to have direct, real world relevance, this is based on rhetoric rather than logic. Theory can and has been considered as analogy, metaphor or framing. These...

Eponymic honor is a common form of professional recognition in economics, as it is in other sciences. There also seems to be convincing evidence that individuals exposed to economic theory behave less cooperatively and more self-interestedly than individuals who have not been exposed to such...

This paper draws a connection between recent developments in naturalized philosophy of science and the Buchanan research program in economics. Economic approaches in naturalized philosophy of science can be combined to form an economic philosophy of science. After giving an overview of some of...

In this chapter, written for the book 'Law and Method. Interdisciplinary Research info Law', we describe the methodology of Law and Economics. We start by discussing the mainstream economic approach to law, including the topics of rationality, the use of (sometimes unrealistic) assumptions, the...

China has its own economics. It is the grand law that can be well applied to oneself, one's family, one country and the world, aiming for the well-beings of all. It roots deeply in the Chinese traditional culture based on complete understanding of the relationship between man and nature. The...

The aim of this paper is to explain what philosophical commitments drove mainstream professional economists to understand their own discipline as leaving no space for ethics (including virtue) between, say, 1887 and 1971. In particular, it is argued that economics embraced a technocratic...

This paper outlines the development of Hayek's account of the working of decentralised economies, focusing in particular on his move away from using the notion of economic equilibrium towards an emphasis on the notion of 'order'