The paper relates to Julian Reiss’s “explanation paradox,” which consists of three widely accepted yet mutually inconsistent claims: (1) economic models are false; (2) they are nevertheless explanatory; (3) only true accounts can explain.

I suggest resolving the paradox by rejecting claim (3).

In discussing psychological narratives in decision theory, this paper contributes to the recent methodological and historical literature, developed by Mary Morgan and other scholars, that explores the epistemic functions of narratives in scientific research broadly, and economics in particular.

Third, it explores the epistemic functions of psychological narratives, contending that, despite their fictional nature, they provide explanations for choice-behavior phenomena.

Recognizing this latter function requires abandoning the assumption that truth is a necessary condition for explanation.

First, it reviews the psychological narratives associated with some influential models developed to supersede expected utility theory.

Second, it examines the epistemological status of these narratives, arguing that they draw from folk psychology and are best understood as as-if constructs.

Models in the economic theory of decision making under uncertainty are often accompanied by “psychological narratives”, i.e., accounts of the psychological factors and processes that determine individuals’ choices in uncertain situations.

This paper makes three main contributions.

📌 Scholarship Code: CU41. CU Beta.06
⏰ Deadline: 22/08 – 1PM
📧 Contact: elena.maggi@uninsubria.it
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A great opportunity to research at the intersection of mobility & climate.

Ma a noi che abbiamo già visto Calenda vs Renzi, questa roba qui ci fa un baffo

Organised by Department of Economic and Social Sciences with our Department.

Org. com. : Samantha Coccia (U. Politecnica delle Marche), Federico Giri (U. Politecnica delle Marche), Mauro Gallegati (U. Politecnica delle Marche), Alberto Russo (U. Politecnica delle Marche), Eugenio Caverzasi.