This paper examines mathematical models in economics and observes that three mutually inconsistent hypotheses concerning models and explanation are widely held: (1) economic models are false; (2) economic models are nevertheless explanatory; and (3) only true accounts explain. Commentators have typically resolved the paradox by rejecting either one of these hypotheses. I will argue that none of the proposed resolutions work and conclude that therefore the paradox is genuine and likely to stay.
No takes yet. Share an insight, caveat, or question.
Julian Reiss (2012) studied this question.
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: