Anna Alexandrova

Can social phenomena be understood by analyzing their parts? Contemporary economic theory often assumes that they can. The methodology of constructing models which trace the behavior of perfectly rational agents in idealized environments rests on the premise that such models, while restricted, help us isolate tendencies, that is, the stable separate effects of economic causes that can be used to explain and predict economic phenomena. In this paper, I question both the claim that models in economics supply claims about tendencies and also the view that economics, when successful, necessarily follows this method. When economics licenses successful policy interventions, as it did in the case of the Federal Communications Commission spectrum auctions, its method is not to study tendencies but rather to study the phenomenon as a whole. Key Words: economic models • tendencies • economic experiments • policy making • John Stuart Mill.

Judgments of well-being across different circumstances and spheres of life exhibit a staggering diversity. Depending on the situation, we use different standards of well-being and even treat it as being constituted by different things. This is true of scientific studies as well as of everyday life. How should we interpret this diversity? I consider three ways of doing so: first, denying the legitimacy of this diversity, second, treating well-being as semantically invariant but differentially realizable, and, third, adopting contextualist semantics for well-being expressions. I reject the first option on the grounds that it is unable to make sense of much of everyday and scientific linguistic practices, and also because it makes the category of well-being insignificant or even otiose for practical purposes. We should thus pick between the second and the third options. I argue that contextualism about well-being is more plausible and faces fewer objections than the differential realization view. I conclude with a discussion of other features of contextualism: it does not imply that well-being is relative to individual taste, it need not result in eliminativism about well-being, nor in scepticism about a general theory of well-being. It does not commit us to an “anything goes” approach, nor does it threaten anarchy and miscommunication.

The burgeoning science of well-being makes no secret of being value laden: improvement of well-being is its explicit goal. But in order to achieve this goal its concepts and claims need to be value adequate; that is, they need, among other things, to adequately capture well-being. In this article I consider two ways of securing this adequacy—first, by relying on philosophical theory of prudential value and, second, by the psychometric approach. I argue that neither is fully adequate and explore an alternative. This alternative requires thorough changes in the way philosophers theorize about well-being.