Julian Reiss

I respond to some challenges raised by my critics. In particular, I argue in favour of six claims. First, against Alexandrova and Northcott, I point out that to deny the explanatoriness of economic models by assuming an ontic (specifically, causal) conception of explanation is to beg the question. Second, against defences of causal realism (by Hausman, Mäki, Rol and Grüne-Yanoff) I point out that they have provided no criterion to distinguish those claims a model makes that can be interpreted realistically (the model's ?causal content? or claims it makes about causal powers or mechanisms) and those the realist can safely ignore. Third, I point out that Hausman's and Rol's claims about robustness plus the empirical observation that economic models are hardly ever robust to the right kinds of specification changes imply that these models do not explain (which is problematic as my original article argued). Fourth, I point out that Sugden's response still leaves an important question unanswered, viz. what makes economic models explanatory. Fifth, I sketch an alternative, instrumentalist account of explanation and argue that it would fit Sugden's bill. Sixth, I point out that under this account of explanation, economic models would come out as non-explanatory, which brings us back to Alexandrova and Northcott's account and its associated difficulties. The ?explanation paradox?, therefore, remains unscathed

Computer simulations are an exciting tool that plays important roles in many scientific disciplines. This has attracted the attention of a number of philosophers of science. The main tenor in this literature is that computer simulations not only constitute interesting and powerful new science , but that they also raise a host of new philosophical issues. The protagonists in this debate claim no less than that simulations call into question our philosophical understanding of scientific ontology, the epistemology and semantics of models and theories, and the relation between experimentation and theorising, and submit that simulations demand a fundamentally new philosophy of science in many respects. The aim of this paper is to critically evaluate these claims. Our conclusion will be sober. We argue that these claims are overblown and that simulations, far from demanding a new metaphysics, epistemology, semantics and methodology, raise few if any new philosophical problems. The philosophical problems that do come up in connection with simulations are not specific to simulations and most of them are variants of problems that have been discussed in other contexts before.

Explaining socio-economic phenomena is one important aim of economics. There is very little agreement, however, on what precisely constitutes an adequate economic explanation. Starting from the very influential but defective ‘deductive-nomological model’ of explanation, this article describes and criticizes the major contemporary competitors for such an account (the probabilistic–causal, the mechanistic–causal and the unificationist models) and argues that none of them can by itself capture all aspects of a good explanation. When seeking to explain a socio-economic phenomenon it should therefore be borne in mind that different types of explanation serve different purposes