Economics and methodology: crossing boundaries ; proceedings of the IEA conference held in Bergamo, Italy PDF
Preview Economics and methodology: crossing boundaries ; proceedings of the IEA conference held in Bergamo, Italy
Economics and Methodology Crossing Boundaries Edited by Roger E. Backhouse, Daniel M. Hausman, Uskali Mäki and Andrea Salanti ECONOMICS AND METHODOLOGY This is IEA conference volume no. 126 This page intentionally left blank Economics and Methodology Crossing Boundaries Proceedings of the IEA Conference held in Bergamo, Italy Edited by Roger E. Backhouse Daniel M. Hausman Uskali Maki and Andrea Salanti in association with the flfl INTERNATIONAL ECONOMIC ASSOCIATION f£ First published in Great Britain 1998 by MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. This book is published in the International Economic Association series General Editor: Michael Kaser Series Standing Order ISBN 0-333-71242-0 (outside North America only) ISBN 0-333-67458-8 W First published in the United States of America 1998 by ST. MARTIN'S PRESS, INC., Scholarly and Reference Division, 175 Fifth Avenue, New York, N.Y. 10010 ISBN 0-312-21099-X Library of Congress Cataloging-in-Publication Data Economics and methodology : crossing boundaries : proceedings of the IEA conference held in Bergamo, Italy / edited by Roger E. Backhouse ...[etal.]. p. cm. — (IEA conference volume ; no. 126) "In association with the International Economic Association." "Originally presented at the IEA conference on 'The nature of economics: case studies in economy methodology', held at the University of Bergamo on 17-19 June 1996"—Ackn. Includes bibliographical references and index. ISBN 0-312-21099-X (cloth) I. Economics—Methodology—Congresses. I. Backhouse, Roger. II. International Economic Association. III. Series: I.E.A. conference volume ; no. 126. HB131.E2574 1998 330-dc21 97-40288 CIP © International Economic Association 1998 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1P 9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. 10 9 8 7 6 5 4 3 2 1 07 06 05 04 03 02 01 00 99 98 Printed in Great Britain by The Ipswich Book Company Ltd, Ipswich, Suffolk Contents The International Economic Association , ix Acknowledgements xi List of Participants xii List of Abbreviations xiii Introduction Daniel M. Hausman and Uskali Maki ' xv 1 Individualism and Equilibrium Coordination in Games 1 Maarten Janssen Comment 36 Ariel Rubinstein Comment: Individualistic Explanation and Strategic Justification 42 Philippe Mongin Discussion 54 2 Free Riding as Mechanism 62 Pierre Salmon Comment: Free Riders, Altruists and Rationality 88 Stefano Zamagni Comment: Mechanisms, Models and Free Riders 97 Uskali Maki Discussion 113 3 Learning from the Debate on Externalities 120 Maurice Lagueux Comment: The Growing Role of Externalities in Economic Theory 148 Andrea Boitani v VI Contents Comment: Assessing Human Interactions 157 Daniel M. Hausman Discussion 170 4 Accounting for Involuntary Unemployment in Neoclassical Theory: Some Lessons from Sixty Years of Uphill Struggle 177 Michel De Vroey Comment: Involuntary Unemployment One More Time 225 Axel Leijonhujvud Comment: Keynes, Marshall and Involuntary Unemployment 236 Kevin D. Hoover Discussion 248 5 .Monetarists and Keynesians on Central Banking: A Case Study of a Flawed Debate 254 Thomas Mayer Comment: Mayer's Version of the Monetarist versus Keynesian Debate 303 Bennett T. McCallum Comment: Task Uncertainty in Economics 311 Nancy /, Wulwick Discussion 316 6 Harold Hotelling and the Neoclassical Dream 322 D. Wade Hands and Philip E. Mirowski Comment 398 Leonid Hurwicz Comment 417 Nancy Cartwright Discussion 422 Contents vn 7 Final Discussion 429 Conclusions 437 Roger E. Backhouse and Andrea Salanti Index of Names 447 Subject Index 456 This page intentionally left blank The International Economic Association A non-profit organisation with purely scientific aims, the International Economic Association (IEA) was founded in 1950. It is a federation of some sixty national economic associations in all parts of the world. Its basic purpose is the development of economics as an intellectual discipline, recognising a diversity of problems, systems and values in the world and taking note of methodological diversities. The IEA has, since its creation, sought to fulfil that purpose by pro moting mutual understanding among economists through the organisa tion of scientific meetings and common research programmes, and by means of publications on problems of fundamental as well as of cur rent importance. Deriving from its long concern to assure professional contacts between East and West and North and South, the IEA pays special attention to issues of economics in systemic transition and in the course of development. During its nearly fifty years of existence, it has organised some hundred round-table conferences for specialists on topics ranging from fundamental theories to methods and tools of analysis and major problems of the present-day world. Participation in round tables is at the invitation of a specialist programme committee, but eleven triennial World Congresses have regularly attracted the par ticipation of individual economists from all over the world. The Association is governed by a Council, composed of representa tives of all member associations, and by a fifteen-member Executive Committee which is elected by the Council. The Executive Committee (1995-8) at the time of the Bergamo Conference was: President: Professor Jacques Drfeze, Belgium Vice-President: Professor Anne Krueger, USA Treasurer: Professor Erich Streissler, Austria Past President: Professor Michael Bruno, Israel (deceased 26 December 1996) Other Members: Professor Anthony B. Atkinson, UK Professor Vittorio Corbo, Chile Professor Karel Dyba, Czech Republic Professor Jean-Michel Grandmont, France IX
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