Abstract
| Original language | English |
|---|---|
| Journal | European Journal of the History of Economic Thought |
| Volume | 26 |
| Issue number | 5 |
| Number of pages | 32 |
| ISSN | 0967-2567 |
| DOIs | |
| Publication status | E-pub ahead of print - 14 Jun 2019 |
| MoE publication type | A1 Journal article-refereed |
Fields of Science
- 611 Philosophy
- explanation
- models
- idealization
- 511 Economics
- spatial competition
- Harold Hotelling
- Hotelling model
- principle of minimum differentiation
Cite this
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Explanatory Value in Context : The Curious Case of Hotelling’s Location Model. / Aydinonat, Nuri Emrah; Köksal, Emin.
In: European Journal of the History of Economic Thought, Vol. 26, No. 5, 14.06.2019.Research output: Contribution to journal › Article › Scientific › peer-review
TY - JOUR
T1 - Explanatory Value in Context
T2 - The Curious Case of Hotelling’s Location Model
AU - Aydinonat, Nuri Emrah
AU - Köksal, Emin
PY - 2019/6/14
Y1 - 2019/6/14
N2 - There is a striking contrast between the significance of Harold Hotelling’s contribution to industrial economics and the fact that his location model was invalid, unrealistic and non-robust. It is difficult to make sense of the explanatory value of Hotelling’s model based on philosophical accounts that emphasize logical validity, representational adequacy, and robustness as determinants of explanatory value. However, these accounts are misleading because they overlook the context within which the explanatory value added of a model is apprehensible. We present Hotelling’s model in its historical context and show why it is an important and explanatory model despite its apparent deficiencies.
AB - There is a striking contrast between the significance of Harold Hotelling’s contribution to industrial economics and the fact that his location model was invalid, unrealistic and non-robust. It is difficult to make sense of the explanatory value of Hotelling’s model based on philosophical accounts that emphasize logical validity, representational adequacy, and robustness as determinants of explanatory value. However, these accounts are misleading because they overlook the context within which the explanatory value added of a model is apprehensible. We present Hotelling’s model in its historical context and show why it is an important and explanatory model despite its apparent deficiencies.
KW - 611 Philosophy
KW - explanation
KW - models
KW - idealization
KW - 511 Economics
KW - spatial competition
KW - Harold Hotelling
KW - Hotelling model
KW - principle of minimum differentiation
U2 - 10.1080/09672567.2019.1626460
DO - 10.1080/09672567.2019.1626460
M3 - Article
VL - 26
JO - European Journal of the History of Economic Thought
JF - European Journal of the History of Economic Thought
SN - 0967-2567
IS - 5
ER -