The Routledge Handbook of the Philosophy of Economics  book cover
1st Edition

The Routledge Handbook of the Philosophy of Economics

ISBN 9781138824201
Published November 30, 2021 by Routledge
532 Pages 15 B/W Illustrations

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Book Description

The most fundamental questions of economics are often philosophical in nature, and philosophers have, since the very beginning of Western philosophy, asked many questions that current observers would identify as economic. The Routledge Handbook of Philosophy of Economics is an outstanding reference source for the key topics, problems, and debates at the intersection of philosophical and economic inquiry. It captures this field of countless exciting interconnections, affinities, and opportunities for cross-fertilization.

Comprising 35 chapters by a diverse team of contributors from all over the globe, the Handbook is divided into eight sections: 

I. Rationality
II. Cooperation and Interaction
III. Methodology
IV. Values
V. Causality and Explanation
VI. Experimentation and Simulation
VII. Evidence
VIII. Policy 

The volume is essential reading for students and researchers in economics and philosophy who are interested in exploring the interconnections between the two disciplines. It is also a valuable resource for those in related fields like political science, sociology, and the humanities.

Table of Contents

    1. Introduction  Conrad Heilmann and Julian Reiss

    Part I: Rationality

    2. History of Utility Theory  Ivan Moscati

    3. The Economics and Philosophy of Risk  H. Orri Stefánsson

    4. Behavioral Welfare Economics and Consumer Sovereignty  Guilhem Lecouteux

    5. The Economic Concept of a Preference  Kate Vredenburgh

    6. Economic Agency and the Subpersonal Turn in Economics  James D. Grayot

    Part II: Cooperation and Interaction

    7. Game Theory and Rational Reasoning  Jurgis Karpus and Mantas Radzvilas

    8. Institutions, Rationality, and Coordination  Camilla Colombo and Francesco Guala

    9. As If Social Preference Models  Jack Vromen

    10. Exploitation and Consumption  Benjamin Ferguson

    Part III: Methodology

    11. Philosophy of Economics? Three Decades of Bibliometric History  Francois Claveau, Alexandre Truc, Olivier Santerre, and Luis Mireles-Flores

    12. Philosophy of Austrian Economics  Alexander Linsbichler

    13. Representation  Hsiang Ke-Chao

    14. Finance and Financial Economics: A Philosophy of Science Perspective  Melissa Vergara-Fernández and Boudewijn de Bruin

    Part IV: Values

    15. Values in Welfare Economics  Antoinette Baujard

    16. Measurement and Value Judgements  Julian Reiss

    17. Reflections on the State of Economics and Ethics  Mark D. White

    18. Well-Being  Mauro Rossi

    19. Fairness and Fair Division  Stefan Wintein and Conrad Heilmann

    Part V: Causality and Explanation

    20. Causality and Probability  Tobias Henschen

    21. Causal Contributions in Economics  Christopher Clarke

    22. Explanation in Economics  Philippe Verreault-Julien

    23. Modeling the Possible to Modeling the Actual  Jennifer S. Jhun

    Part VI: Experimentation and Simulation

    24. Experimentation in Economics  Michiru Nagatsu

    25. Field Experiments  Judith Favereau

    26. Computer Simulations in Economics  Aki Lehtinen and Jaakko Kuorikoski

    27. Evidence-Based Policy  Donal Khosrowi

    Part VII: Evidence

    28. Economic Theory and Empirical Science  Robert Northcott

    29. Philosophy of Econometrics  Aris Spanos

    30. Statistical Significance Testing in Economics  William Peden and Jan Sprenger

    31. Quantifying Health  Daniel M. Hausman

    Part VIII: Policy

    32. Freedoms, Political Economy, and Liberalism  Sebastiano Bavetta

    33. Freedom and Markets  Constanze Binder

    34. Policy Evaluation Under Severe Uncertainty: A Cautious, Egalitarian Approach  Alex Voorhoeve

    35. Behavioral Public Policy: One Name, Many Types. A Mechanistic Perspective  Till Grüne-Yanoff

    36. The Case for Regulating Tax Competition  Peter Dietsch

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    Conrad Heilmann is Associate Professor of Philosophy at Erasmus School of Philosophy, Co-Director of the Erasmus Institute for Philosophy and Economics (EIPE), and Core Faculty of the Erasmus Initiative Dynamics of Inclusive Prosperity at Erasmus University Rotterdam, The Netherlands. He works on rational choice theory, fairness, finance, and other topics in the philosophy of economics.

    Julian Reiss is Professor of Philosophy at Johannes Kepler University Linz, Austria, and Head of the Institute of Philosophy and Scientific Method. He is the author of Causation, Evidence, and Inference (Routledge, 2015), Philosophy of Economics: A Contemporary Introduction (Routledge, 2013), Error in Economics: Towards a More Evidence-Based Methodology (Routledge, 2008; Erasmus Philosophy International Research Prize), and more than 60 papers in leading philosophy and social science journals and edited collections. 


    Economics has shaped our world through the influence its ideas have had on business behaviour and government policies. As this climate of ideas is clearly changing, there could not be a better time to explore the philosophy of economics. This Handbook is an important contribution to interrogating economics and asking how the discipline could be set on firmer ethical and philosophical foundations.
    Diane Coyle, University of Cambridge

    This handbook is a unique reference on the philosophy of economics, with a very comprehensive coverage and an impressive slate of contributors, many of them belonging to a generation of emerging scholars in the field. It nicely integrates questions of rationality, ethics, and methodology, and it firmly establishes the intimate connection between philosophy and economics, two disciplines which share many traits and interests. A most useful resource for researchers and students interested in the field.
    Marc Fleurbaey, Paris School of Economics

    Handbooks manifest progress and growth of a research field. Since the Oxford Handbook of the Philosophy of Economics (2009) and Philosophy of Economics / Handbook of the Philosophy of Science (2012) about a decade ago, there have been many important new developments in the field. Here we have a wonderfully enriched variety of topics presented to us by an impressive group of a new generation of experts.
    Uskali Mäki, University of Helsinki

    Handbooks are in fashion; this one addresses both philosophers’ questions about economics and economists’ engagement with philosophy. Its 35 chapters range from discussions of the hard, but shared, issues of ethics and values, to the equally difficult practical problems about how economics gets done on the scientific frontier. An invaluable companion piece for both disciplinary communities, and for those who practice in both.
    Mary S. Morgan, London School of Economics