Quantitative Economic Modeling vs Methodological Individualism ?

Buda, Rodolphe (1999): Quantitative Economic Modeling vs Methodological Individualism ? Published in: Working Paper MODEM , Vol. 00, No. 09 (2000)

Abstract

During a long time, the Austrian Economic School was against any mathematical formalization in social and economic sciences because it would be opposed to an individualist point of view of social phenomenons. We try to find an quantitative individualism modelling way from a criticism of holist modelling. But this paper tries to improve the dilemma of the quantitative modelling : we have to choose between whole representations - which denies individuals - and individualist models which are'nt able all to represent. Each one of these models have got his own logic of elaboration (statistical, experimental etc.) but we have to consider they are complementary from a scientific point of view.

• Item Type: MPRA Paper
• Institution: GAMA-MODEM CNRS, University of Paris 10
• Language: English
• Keywords: Methodological Individualism ; Austrian Economics ; Quantitative Economics ; Computational Economics
• Subjects: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C63 - Computational Techniques ; Simulation Modeling; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology

References

ALLAIS M., (1954), Les fondements comptables de la macro-économique - les équations comptables entre quantités globales et leurs applications, Paris, PUF, Coll. Dito, (Rééd.1993), 96 p. BARONE E., (1935), "The Ministry of Production in The Collectivist State", in F.A.HAYEK (ED.), Collectivist Economic Planning, London, Routeledge & Kegan pp.245-90. BUDA R., (1999), "Market Exchange Modeling - Experiment, Simulation Algorithms, and Theoretical Analysis", Communication in Experimental Economics - European Regional Meeting of the E.S.A., Grenoble, 8-9 october, Working Paper MODEM, 99(13), 17 p. COURBIS R., (1977), Modèles de prix pour la prévision et la planification, Paris, Dunod, Coll. Finance et économie appliquée, 435 p. HAYEK F.A. (Von), (1935), "The Nature and History of the Problem", in F.A.HAYEK (ED.), Collectivist Economic Planning, London, Routeledge & Kegan, pp.1-40. HAYEK F.A. (Von), (1937), "Economics and Knowledge", Economica, 4, pp.33-54. HAYEK F.A. (Von), (1945), "The Use of Knowledge in Society", American Economic Review, 35(4), pp.519-30. HAYEK F.A. (Von), (1952), The Counter-Revolution of Science, Glencoe, Free Press, (Trad. partielle, Scientisme et sciences sociales). HAYEK F.A. (Von), (1967), Studies in Philosophy, Politics and Economics, London, Routeledge. HAYEK F.A. (Von), (1973), Law, Legislation and Liberty - Vol.1 - Rules and Order, London, Routeledge, (Trad.1985). HAYEK F.A. (Von), (1976), Law, Legislation and Liberty - Vol.2 - The Mirage of Social Justice, London, Routeledge, (Trad.1981). HAYEK F.A. (Von), (1988), The Fatal Conceit - The Errors of Socialism, London, Routeledge, (Trad.1993, PUF). HAYEK F.A.(ED.), (1935), Collectivist Economic Planning - Critical Studies on the Possibilities of Socialism, London, Routeledge & Kegan Paul Ltd, 293 p. KIRZNER I., (1979), Perception, Opportunities and Prot, Chicago, Chicago UP. LACHMANN L., (1986), The Market as an Economic Process, Oxford, Basil Blackwell. LANGE O.R., (1964), "On the Economic Theory of Socialism", in B.E.LIPPINCOTT (ED.), On the Economic Theory of Socialism, New York, McGrawHill, pp.55-143. LANGE O.R., (1967), "The Computer and the Market", in C.H.FEINSTEIN (ED.), Socialism, Capitalism, and Economic Growth, Cambridge, Cambridge UP, pp.158-61. LANGE O.R., (1970), Introduction to Economic Cybernetics, London, Pergamon Press, 183 p. LONGUET S., (1998), Hayek et l'école autrichienne, Paris, Nathan, Coll. Circa, 192 p. LUCAS R.E.Jr., (1976), "Econometric Policy Evaluation : A Criticism", Journal of Political Economy, No83(6), pp.1113-144. MISES L. (Von), (1935), "Economic Calculation in the Socialist Commonwealth", in F.A.HAYEK (ED.), Collectivist Economic Planning, London,Routeledge & Kegan, pp.87-130. MISES L. (Von), (1938), "Les équations de l'économie mathématique et le problème du calcul économique en régime socialiste", Revue d'économie politique, pp.1055-1062 (repr., 1987, Revue d'économie politique, 97(6), nov.-déc., pp.899-906). MORGENSTERN O. (1950), On the Occuracy of Economic Observations, New York, Princeton UP. ROTHBARD M., (1991), Economistes et charlatans, Paris, Belles lettres, Coll. Laisser- faire, 310 p. SCHMIDT C., VERSAILLES D.W., (1999), "Une théorie hayekienne de la connaissance économique ?", Revue d'économie politique, 109(6), pp.817-32. SMITH V.L., (1989), "Theory, Experiment and Economics", Journal of Economic Perspectives, No3, pp.151-69. SMITH V.L., (1991), "Markets as Economizers of Information : An Experimental Examination of the Hayek hypothesis", in V.L.SMITH (ED.), Papers in Experimental Economics, Cambridge, Cambridge UP, pp.221-35. WILLIAMS A.H., (1980), "Computerized Double Auction Markets : Some Initial Experimental Results", Journal of Business, Vol.53, pp.235-58.