On the contents and agents of commentary in modelling

Uskali Mäki

Journal of Economic Methodology, 2024, vol. 31, issue 4, 287-301

Abstract: Economics is a societally influential discipline, but the relationship of its theoretical activity to social reality and practical policy is chronically puzzling. Its theoretical models appear to involve a lot of falsehood, and modellers seem unconcerned about this and about any possible future uses of the models, while sticking to the same unifying theoretical framework. Gilboa et al. (2014, 2022) aspire to resolve the puzzle in terms of varying interpretations of models. I offer critical comments on their ideas while expanding and refining my own account of what I call model commentary whose task is to help understand and evaluate the process of modelling. I point out the rich complexity of adequate commentaries and discuss the issue of whose responsibility it is to construe and communicate them.

Date: 2024
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DOI: 10.1080/1350178X.2024.2409217

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