Coase’s choice of methodology

Elodie Bertrand

Cambridge Journal of Economics, 2016, vol. 40, issue 4, 1203-1227

Abstract: This paper examines the nature of Ronald H. Coase’s realism by considering the relationship between theories and facts in his methodology. I focus especially on Coase’s criticisms of Friedman’s 1953 essay, as set out in a lecture published in 1982. It is shown that in developing his argument, Coase applies his institutional economics to address the question of how economists, operating within a regulated market for ideas, choose their theories. He calls for realism in methodology and carries out an empirical study of economists’ choices. He explores how the profession is regulated and highlights how discourse impacts on the functioning of science. A key question addressed within this paper is: how can Coase maintain a sociological and rhetorical view of science without falling into relativism? I identify the different motives for theory choice that Coase considers and show that his answer is both institutional and epistemic. This helps to clarify the status of the empirical basis in Coase’s methodology and sheds new light on the nature of his realism. I conclude by carrying out a reflexive analysis of Coase’s text as a text that attempts to justify the methodology on which it is itself based.

Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1093/cje/bev072 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:40:y:2016:i:4:p:1203-1227.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().