This paper has three parts. The first will discuss the fundamentals concerning both the nature of knowledge and the nature of the methodological requirements of explanation in neoclassical economics. The second will show how these fundamentals are applied to the explanation of economic decision...

Discussing 'realism' has been a growth industry lately. Where once we might have heard philosophers argue over realism vs idealism or vs instrumentalism. Today the discussion concerns various types of realism. Basically the main question is: do the model's assumptions represent realty, that is ,...