The Fundamentals of Economic Research

Władysław Milo

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ISBN/ISSN:

978-83-8142-150-8

DOI:

Wydawnictwo:

Wydawnictwo Uniwersytetu Łódzkiego

Rok wydania:

2018

Liczba stron:

318

XML:ISBN/ISSN:

ONIX MARC21

Bibliografia:

Milo, Władysław. The Fundamentals of Economic Research. Red. . Łódź: Wydawnictwo Uniwersytetu Łódzkiego, 2018, 318 s. ISBN 978-83-8142-150-8

Bibliografia refWorks:

RT Book, Whole

SR Electronic(1)

A1 Milo, W.

T1 The Fundamentals of Economic Research

PB Wydawnictwo Uniwersytetu Łódzkiego

PP Łódź

YR 2018

SN 978-83-8142-150-8

Bibliografia BibTex:

@Book{ 199123, author = "Milo, Władysław", editor = "", title = "The Fundamentals of Economic Research", publisher = "Wydawnictwo Uniwersytetu Łódzkiego", year = "2018", address = "Łódź", isbn = "978-83-8142-150-8" }

Bibliografia endNote:

TY - BOOK

AU - Milo, Władysław

ED -

TI - The Fundamentals of Economic Research

PB - Wydawnictwo Uniwersytetu Łódzkiego

CY - Łódź

PY - 2018

SN - 978-83-8142-150-8

ER -

Netografia (standard APA):

Milo, Władysław. The Fundamentals of Economic Research [baza danych online] Łódź: Wydawnictwo Uniwersytetu Łódzkiego, 2018 [dostęp: 22 07 2024]. Dostęp w Ibuk Libra: https://libra.ibuk.pl/reader/the-fundamentals-of-economic-research-wladyslaw-milo-199123.

criteria for causality, determinants of quality, isomorphisms, homeomorphisms, models and modeling, monetary policy tools

In this monography there are presented and discussed the following categories of concepts: truth and causes, randomness, isomorphism, homomorphism, models, modelling, expectations, tools and effects of the use of monetary policy, potentia and calc...

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ISBN/ISSN:

978-83-8142-150-8

DOI:

Wydawnictwo:

Wydawnictwo Uniwersytetu Łódzkiego

Rok wydania:

2018

Liczba stron:

318

XML:ISBN/ISSN:

ONIX MARC21

Preface9
Chapter 1. Truth and causes13
1.1. Introduction14
1.2. Notions of truth15
1.2.1. Truth definitions17
1.2.2. Determinants of quality of truthfulness criteria27
1.3. Notions of cause32
1.4. Criteria for causality54
1.5. Final notes62
Bibliography63
Chapter 2. On randomness73
2.1. Introduction74
2.2. Qualitative concepts of randomness from antiquity until the XIX c75
2.3. Final remarks93
Bibliography94
Chapter 3. Isomorphisms, homeomorphisms, models and modeling97
3.1. Introduction98
3.2. Homeomorphisms and Isomorphisms99
3.2.1. Intuitive characterizations of Homm & Isomm99
3.2.2. Formal characterizations of Homm104
3.2.3. Isomorphisms106
3.3. Homeomorphism, isomorphism and models112
3.3.1. Category of model114
3.4. Principles of and problems related to modeling120
3.5. Final remarks126
Bibliography126
4.1. Introduction129
Chapter 4. On models and modeling129
4.2. The essence of models130
4.2.1. Fundamental questions132
4.3. Domains and co-domains of models140
4.4. Kinds of models143
4.5. More specific forms of models148
4.6. Modeling and principles of modeling150
4.7. Models and modeling in economics162
4.8. Final remarks170
Bibliography171
5.1. Introduction175
Chapter 5. On expectations. Part I175
5.2. Concepts of rationality178
5.3. Rational expectations and rational predictions183
5.4. Adaptive rational expectations and predictions188
Bibliography192
6.1. Introduction195
Chapter 6. On expectations. Part II195
6.2. Non-adaptive rational economic expectations: theories and models197
6.2.1. H. Working’s theory of rational economic expectations206
6.2.2. J. Muth’s theory of rational economic expectations209
6.2.3. R. E. Lucas, Jr.’s theory of rational economic expectations214
6.2.4. T. J. Sargent’s theory of rational economic expectations219
Bibliography226
7.1. Introduction229
Chapter 7. On expectations. Part III229
7.2. Remarks on J. M. Keynes’ and H. Working’s theories of expectations230
7.3. Remarks on J. Muth’s theory of rational expectations234
7.4. Remarks on R. E. Lucas’ and T. Sargent’s theories of rational economic expectations236
7.4.1. Lucas’ theory236
7.4.2. T. J. Sargent’s theory239
Bibliography243
Chapter 8. Methodological problems of choosing the instruments and effects of monetary policy245
8.1. Introduction246
8.2. Tools of monetary policy250
8.3. Effects of monetary policy tools258
8.4. Final remarks266
Bibliography268
9.1. Introduction271
Chapter 9. Calculus of potentials in physics, mathematics and economics271
9.2. The measurement and calculus of potentials in physics272
9.3. The measurement and calculus of potentials in mathematics280
9.3.1. Classical results280
9.4. Non-classical results289
9.5. Measuring potential in economics290
9.5.1. Examples of empirical applications296
Bibliography298
10.1. Introduction303
Chapter 10. On theories and theorizing303
10.2. Theories in logic304
10.3. Theories in mathematics307
10.4. Theories in some other fields of science309
10.5. Final remarks316
Bibliography317

1.1.Introduction

Truthandcausewereandremaincategoriesofnotions.Theyhavebeen

thesubjectofhotdebatesfromantiquitytothepresent.Suchdiscussions

havebeencarriedoutbyrepresentativesofallﬁeldsofscience,arts,profes-

sions,agegroups,nationsandraces,boththeoreticiansandpractitioners.

Ineconomics,thepositiveroleofthesecategorieswasparticularlyunder-

linedbyT.KoopmansandH.SimonfromtheCowlesComission,aswell

as,R.Frisch,J.Tinbergen,O.Lange,M.Kalecki,J.M.Keynes,M.Allais,

C.Granger,H.Wold,R.Bassman,R.Strotz,andlater,e.g.B.Stigum

andK.Hoover.Ourpresentationof38notionsoftruthandmorethan30

notionsofcauseismainlybasedonCorpusAristotelicumwrittenbyAn-

dronikosfromRhodos(Ic.B.C.),andknowntouse.g.fromitsPolish

translationin9Volumeswithancientandmoderncommentariestakenfrom

theappropriatetranslationsintothemainEuropeanlanguages.Ifthereare

errorsintheseinterpretations,theauthortakesresponsibilityforthem.It

ishardtosaytodaywhetherourmodernunderstandingofthe7ancient

Greekwordsforutruth”and67wordsforuuntruth”,aswritesJ.Woleński,

isexactlythesameunderstandingasancientGreeksusedindaytodaylife.

Similarremarksmaybeformulatedforthewordsucause”anduuncause”.A

growingtendencycanbeobserved,beginningintheXIXc.,amongboth

scientistsandnon-scientiststoaccepttheviewthatwecannotrecognizethe

precisecausesofreallifefacts,events,phenomenaandprocessesandthe

truthaboutthemishidden,latent.Thustheonlythingwecandoistoes-

timatetheprobabilitiesoftheiroccurrence.Thisstancehasbeenaccepted

evenbyphysicists,chemists,engineers,physiciansandeconomists.

Nowadays,inalltypesofsciences,aswellasthelifeofsocieties,the

languageofstochasticsisincommonuseasawaytospeakaboutourigno-

ranceregardingwhysomethinghappens.Thequestionofhowhasbecome

moreoftenaskedthanquestionofwhy,becauseoftheideologicalimpact

oftheEnlightenmentandPositivism,togetherwiththerapidprogressin

inventingnewtoolsofmeasurement,productionandexperimentation.The

XXc.technologicalrevolution,resultinginthemassiveuseofpersonalcom-

putersandsmartphones,aswellaseasyaccesstouser-friendlyprogramming

packagescarryingoutlogicalandmathematicalcomputationsandpresent-

ingmultidimensionalgraphics,hascreatednaturalgroundsformakingem-

piricalresearchaccessibleandenjoyable–researchconnectedwithsimple

questionsofhowempiricalprocessesbehaveandwhatarethechancesof

theirpatternsofevolutionrepeatinginthefuture.

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