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Regional economic analysis: The case for methodological individualism

Leppälä, Samuli and Desrochers, Pierre 2012. Regional economic analysis: The case for methodological individualism. In: Andersson, D. E. ed. The Spatial Market Process, Advances in Austrian Economics, vol. 16. Bingley: Emerald, pp. 25-56. (10.1108/S1529-2134(2012)0000016005)

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Besides subjectivism (in terms of value and cost) and the market process approach (as opposed to mainstream economics’ equilibrium analysis), methodological individualism is a foundational methodological principle of Austrian economics. While being (arguably) more consistently and consciously practiced within Austrian economics, methodological individualism is far from unique to this tradition and is a well-recognized principle of inquiry in the social sciences (Watkins, 1952a, 1952b). Needless to say though, methodological individualism remains controversial and discussions of its true meaning and adequateness periodically resurface in the philosophy of science literature (Hodgson, 2007; Udehn, 2002).

Item Type: Book Section
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Publisher: Emerald
ISBN: 9781781900062
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Last Modified: 04 Jun 2017 04:31

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