IDEAS home Printed from https://ideas.repec.org/a/taf/revpoe/v28y2016i1p134-152.html
   My bibliography  Save this article

Microfoundations

Author

Listed:
  • Andy Denis

Abstract

This paper argues that the microfoundations programme can be understood as an implementation of an underlying methodological principle—methodological individualism—and that it therefore shares a fundamental ambiguity with that principle, viz, whether the macro must be derived from and therefore reducible to, or rather consistent with, micro-level behaviours. The pluralist conclusion of the paper is not that research guided by the principle of microfoundations is necessarily wrong, but that the exclusion of approaches not guided by that principle is indeed necessarily wrong. The argument is made via an examination of the advantages claimed for dynamic stochastic general equilibrium models, the relationship between parts and wholes in social science, and the concepts of reduction, substrate neutrality, the intentional stance and hypostatisation.

Suggested Citation

  • Andy Denis, 2016. "Microfoundations," Review of Political Economy, Taylor & Francis Journals, vol. 28(1), pages 134-152, January.
    • Handle: RePEc:taf:revpoe:v:28:y:2016:i:1:p:134-152
    DOI: 10.1080/09538259.2016.1108132
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09538259.2016.1108132
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09538259.2016.1108132?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Herbert A. Simon, 1996. "The Sciences of the Artificial, 3rd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691914, April.
    2. J. E. King, 2012. "The Microfoundations Delusion," Books, Edward Elgar Publishing, number 14065.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Victoria Chick, 2013. "The future is open: on open-system theorising in economics," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Teaching Post Keynesian Economics, chapter 3, pages 56-72, Edward Elgar Publishing.
    2. Jan Toporowski & Andy Denis, 2016. "Microfoundations: Introduction," Review of Political Economy, Taylor & Francis Journals, vol. 28(1), pages 90-91, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tobias Knabke & Sebastian Olbrich, 2018. "Building novel capabilities to enable business intelligence agility: results from a quantitative study," Information Systems and e-Business Management, Springer, vol. 16(3), pages 493-546, August.
    2. Sunder Shyam, 2011. "Imagined Worlds of Accounting," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(1), pages 1-14, January.
    3. McCown, R. L., 2002. "Changing systems for supporting farmers' decisions: problems, paradigms, and prospects," Agricultural Systems, Elsevier, vol. 74(1), pages 179-220, October.
    4. Thiago Dumont Oliveira & Carlos Eduardo Suprinyak, 2016. "Lionel Robbins’ first-step individualism and the prehistory of microfoundations," Textos para Discussão Cedeplar-UFMG 537, Cedeplar, Universidade Federal de Minas Gerais.
    5. Basile, Luigi Jesus & Carbonara, Nunzia & Pellegrino, Roberta & Panniello, Umberto, 2023. "Business intelligence in the healthcare industry: The utilization of a data-driven approach to support clinical decision making," Technovation, Elsevier, vol. 120(C).
    6. Loris Gaio, 2005. "A diversity-based approach to requirements tracing in new product development," ROCK Working Papers 031, Department of Computer and Management Sciences, University of Trento, Italy, revised 13 Jun 2008.
    7. B. A. Huberman & N. S. Glance, "undated". "Diversity and Collective Action," Working Papers _001, Xerox Research Park.
    8. Zhewei Zhang & Youngjin Yoo & Kalle Lyytinen & Aron Lindberg, 2021. "The Unknowability of Autonomous Tools and the Liminal Experience of Their Use," Information Systems Research, INFORMS, vol. 32(4), pages 1192-1213, December.
    9. David Stadelmann & Benno Torgler, 2012. "Bounded Rationality and Voting Decisions Exploring a 160-Year Period," Working Papers 2012.70, Fondazione Eni Enrico Mattei.
    10. Francis Marleau Donais & Irène Abi-Zeid & E. Owen D. Waygood & Roxane Lavoie, 2021. "A Framework for Post-Project Evaluation of Multicriteria Decision Aiding Processes from the Stakeholders’ Perspective: Design and Application," Group Decision and Negotiation, Springer, vol. 30(5), pages 1161-1191, October.
    11. H. Christopher Frey & Sumeet R. Patil, 2002. "Identification and Review of Sensitivity Analysis Methods," Risk Analysis, John Wiley & Sons, vol. 22(3), pages 553-578, June.
    12. Marie-Laure Salles-Djelic & Michel Gutsatz, 2000. "Managerial Competencies for Organizational Flexibility: The Luxury Goods Industry between Tradition and Postmodernism," Post-Print hal-01892018, HAL.
    13. Rennard, Jean-Philippe, 2006. "Artificiality in Social Sciences," MPRA Paper 1458, University Library of Munich, Germany.
    14. Luoma, Jukka, 2016. "Model-based organizational decision making: A behavioral lens," European Journal of Operational Research, Elsevier, vol. 249(3), pages 816-826.
    15. Dalila Cisco Collatto & Aline Dresch & Daniel Pacheco Lacerda & Ione Ghislene Bentz, 2018. "Is Action Design Research Indeed Necessary? Analysis and Synergies Between Action Research and Design Science Research," Systemic Practice and Action Research, Springer, vol. 31(3), pages 239-267, June.
    16. Nadia Fiorino & Emma Galli & Ilde Rizzo & Marco Valente, 2023. "Public procurement and reputation. An agent‐based model," Metroeconomica, Wiley Blackwell, vol. 74(4), pages 806-832, November.
    17. Olivier L. de Weck & Marshall B. Jones, 2006. "Isoperformance: Analysis and design of complex systems with desired outcomes," Systems Engineering, John Wiley & Sons, vol. 9(1), pages 45-61, March.
    18. Hippel, Eric von., 1992. "Adapting market research to the rapid evolution of needs for new products and services," Working papers 3374-92., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    19. Zdravka Todorova & Tae-Hee Jo, 2015. "Frederic S. Lee's contributions to heterodox economics," Working Papers PKWP1504, Post Keynesian Economics Society (PKES).
    20. Konstantinos S. Boulas & Georgios D. Dounias & Chrissoleon T. Papadopoulos, 2023. "A hybrid evolutionary algorithm approach for estimating the throughput of short reliable approximately balanced production lines," Journal of Intelligent Manufacturing, Springer, vol. 34(2), pages 823-852, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:revpoe:v:28:y:2016:i:1:p:134-152. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CRPE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.