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A positivist tradition in early demand theory

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  • David Teira Serrano

Abstract

In this paper I explore a positivist methodological tradition in early demand theory, as exemplified by several common traits that I draw from the works of V. Pareto, H. L. Moore and H. Schultz. Assuming a current approach to explanation in the social sciences, I will discuss the building of their various explanans, showing that the three authors agreed on two distinctive methodological features: the exclusion of any causal commitment to psychology when explaining individual choice and the mandate to test the truth of demand theory on aggregate data by statistical means. However, I also contend, from an epistemological point of view, that the truth of demand theory was conceived of in three different ways by our authors. Inspired by Poincare, Pareto assumed that many different theories could account for the same data on individual choice, coming close to a kind of conventionalism - though I prefer to refer to this position as theoreticism. Moore was himself akin to Pearson's approach, which could be named descriptivist in so far as it resolved scientific laws into statistical descriptions of the data. Finally, Schultz tried to reconcile both approaches in an adequationist stance with no success, as we shall see.

Suggested Citation

  • David Teira Serrano, 2006. "A positivist tradition in early demand theory," Journal of Economic Methodology, Taylor & Francis Journals, vol. 13(1), pages 25-47.
    • Handle: RePEc:taf:jecmet:v:13:y:2006:i:1:p:25-47
    DOI: 10.1080/13501780600566321
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    References listed on IDEAS

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    1. Henry L. Moore, 1908. "The Statistical Complement of Pure Economics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 23(1), pages 1-33.
    2. Luigino Bruni & Francesco Guala, 2001. "Vilfredo Pareto and the Epistemological Foundations of Choice Theory," History of Political Economy, Duke University Press, vol. 33(1), pages 21-49, Spring.
    3. Theodore O. Yntema, 1939. "Henry Schultz: His Contributions to Economics and Statistics," Journal of Political Economy, University of Chicago Press, vol. 47(2), pages 153-153.
    4. Qin, Duo, 1989. "Formalization of Identification Theory," Oxford Economic Papers, Oxford University Press, vol. 41(1), pages 73-93, January.
    5. E. J. Working, 1927. "What Do Statistical "Demand Curves" Show?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 41(2), pages 212-235.
    6. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521772839, September.
    7. Mordecai Ezekiel, 1928. "Statistical Analyses and the "Laws" of Price," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 42(2), pages 199-227.
    8. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521775267, September.
    9. Holbrook Working, 1925. "The Statistical Determination of Demand Curves," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 39(4), pages 503-543.
    10. Philip Mirowski, 1990. "Problems in the Paternity of Econometrics: Henry Ludwell Moore," History of Political Economy, Duke University Press, vol. 22(4), pages 587-609, Winter.
    11. Sawyer, K. R. & Beed, Clive & Sankey, H., 1997. "Underdetermination in Economics. The Duhem-Quine Thesis," Economics and Philosophy, Cambridge University Press, vol. 13(1), pages 1-23, April.
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