With the failure of economics to predict the recent economic crisis, the image of economics as a rigorous mathematical science has been subjected to increasing interrogation. One explanation for this failure is that the subject took a wrong turn in its historical trajectory, becoming too mathematical. Using the philosophy of mathematics, this unique book re-examines this trajectory. Philosophy of Mathematics and Economics re-analyses the divergent rationales for mathematical economics by some of its principal architects. Yet, it is not limited to simply enhancing our understanding of how economics became an applied mathematical science. The authors also critically evaluate developments in the philosophy of mathematics to expose the inadequacy of aspects of mainstream mathematical economics, as well as exploiting the same philosophy to suggest alternative ways of rigorously formulating economic theory for our digital age. This book represents an innovative attempt to more fully understand the complexity of the interaction between developments in the philosophy of mathematics and the process of formalisation in economics. Assuming no expert knowledge in the philosophy of mathematics, this work is relevant to historians of economic thought and professional philosophers of economics. In addition, it will be of great interest to those who wish to deepen their appreciation of the economic contours of contemporary society. It is also hoped that mathematical economists will find this work informative and engaging.

With the failure of economics to predict the recent economic crisis, the image of economics as a rigorous mathematical science has been subjected to increasing interrogation. One explanation for this failure is that the subject took a wrong turn in its historical trajectory, becoming too mathematical. Using the philosophy of mathematics, this unique book re-examines this trajectory. Philosophy of Mathematics and Economics re-analyses the divergent rationales for mathematical economics by some of its principal architects. Yet, it is not limited to simply enhancing our understanding of how economics became an applied mathematical science. The authors also critically evaluate developments in the philosophy of mathematics to expose the inadequacy of aspects of mainstream mathematical economics, as well as exploiting the same philosophy to suggest alternative ways of rigorously formulating economic theory for our digital age. This book represents an innovative attempt to more fully understand the complexity of the interaction between developments in the philosophy of mathematics and the process of formalisation in economics. Assuming no expert knowledge in the philosophy of mathematics, this work is relevant to historians of economic thought and professional philosophers of economics. In addition, it will be of great interest to those who wish to deepen their appreciation of the economic contours of contemporary society. It is also hoped that mathematical economists will find this work informative and engaging.

The philosophy of mathematics is an exciting subject. Philosophy of Mathematics: Classic and Contemporary Studies explores the foundations of mathematical thought. The aim of this book is to encourage young mathematicians to think about the philosophical issues behind fundamental concepts and about different views on mathematical objects and mathematical knowledge. With this new approach, the author rekindles an interest in philosophical subjects surrounding the foundations of mathematics. He offers the mathematical motivations behind the topics under debate. He introduces various philosophical positions ranging from the classic views to more contemporary ones, including subjects which are more engaged with mathematical logic. Most books on philosophy of mathematics have little to no focus on the effects of philosophical views on mathematical practice, and no concern on giving crucial mathematical results and their philosophical relevance, consequences, reasons, etc. This book fills this gap. The book can be used as a textbook for a one-semester or even one-year course on philosophy of mathematics. "Other textbooks on the philosophy of mathematics are aimed at philosophers. This book is aimed at mathematicians. Since the author is a mathematician, it is a valuable addition to the literature." - Mark Balaguer, California State University, Los Angeles "There are not many such texts available for mathematics students. I applaud efforts to foster the dialogue between mathematics and philosophy." - Michele Friend, George Washington University and CNRS, Lille, France

Providing an introduction to mathematical analysis as it applies to economic theory and econometrics, this book bridges the gap that has separated the teaching of basic mathematics for economics and the increasingly advanced mathematics demanded in economics research today. Dean Corbae, Maxwell B. Stinchcombe, and Juraj Zeman equip students with the knowledge of real and functional analysis and measure theory they need to read and do research in economic and econometric theory. Unlike other mathematics textbooks for economics, An Introduction to Mathematical Analysis for Economic Theory and Econometrics takes a unified approach to understanding basic and advanced spaces through the application of the Metric Completion Theorem. This is the concept by which, for example, the real numbers complete the rational numbers and measure spaces complete fields of measurable sets. Another of the book's unique features is its concentration on the mathematical foundations of econometrics. To illustrate difficult concepts, the authors use simple examples drawn from economic theory and econometrics. Accessible and rigorous, the book is self-contained, providing proofs of theorems and assuming only an undergraduate background in calculus and linear algebra. Begins with mathematical analysis and economic examples accessible to advanced undergraduates in order to build intuition for more complex analysis used by graduate students and researchers Takes a unified approach to understanding basic and advanced spaces of numbers through application of the Metric Completion Theorem Focuses on examples from econometrics to explain topics in measure theory

In How Economics Became a Mathematical Science E. Roy Weintraub traces the history of economics through the prism of the history of mathematics in the twentieth century. As mathematics has evolved, so has the image of mathematics, explains Weintraub, such as ideas about the standards for accepting proof, the meaning of rigor, and the nature of the mathematical enterprise itself. He also shows how economics itself has been shaped by economists’ changing images of mathematics. Whereas others have viewed economics as autonomous, Weintraub presents a different picture, one in which changes in mathematics—both within the body of knowledge that constitutes mathematics and in how it is thought of as a discipline and as a type of knowledge—have been intertwined with the evolution of economic thought. Weintraub begins his account with Cambridge University, the intellectual birthplace of modern economics, and examines specifically Alfred Marshall and the Mathematical Tripos examinations—tests in mathematics that were required of all who wished to study economics at Cambridge. He proceeds to interrogate the idea of a rigorous mathematical economics through the connections between particular mathematical economists and mathematicians in each of the decades of the first half of the twentieth century, and thus describes how the mathematical issues of formalism and axiomatization have shaped economics. Finally, How Economics Became a Mathematical Science reconstructs the career of the economist Sidney Weintraub, whose relationship to mathematics is viewed through his relationships with his mathematician brother, Hal, and his mathematician-economist son, the book’s author.

A sophisticated, original introduction to the philosophy of mathematics from one of its leading thinkers Mathematics is a model of precision and objectivity, but it appears distinct from the empirical sciences because it seems to deliver nonexperiential knowledge of a nonphysical reality of numbers, sets, and functions. How can these two aspects of mathematics be reconciled? This concise book provides a systematic, accessible introduction to the field that is trying to answer that question: the philosophy of mathematics. Øystein Linnebo, one of the world's leading scholars on the subject, introduces all of the classical approaches to the field as well as more specialized issues, including mathematical intuition, potential infinity, and the search for new mathematical axioms. Sophisticated but clear and approachable, this is an essential book for all students and teachers of philosophy and of mathematics.

Part of the Handbook of the Philosophy of Science Series edited by: Dov M. Gabbay King's College, London, UK; Paul Thagard University of Waterloo, Canada; and John Woods University of British Columbia, Canada. Philosophy of Economics investigates the foundational concepts and methods of economics, the social science that analyzes the production, distribution and consumption of goods and services. This groundbreaking collection, the most thorough treatment of the philosophy of economics ever published, brings together philosophers, scientists and historians to map out the central topics in the field. The articles are divided into two groups. Chapters in the first group deal with various philosophical issues characteristic of economics in general, including realism and Lakatos, explanation and testing, modeling and mathematics, political ideology and feminist epistemology. Chapters in the second group discuss particular methods, theories and branches of economics, including forecasting and measurement, econometrics and experimentation, rational choice and agency issues, game theory and social choice, behavioral economics and public choice, geographical economics and evolutionary economics, and finally the economics of scientific knowledge. This volume serves as a detailed introduction for those new to the field as well as a rich source of new insights and potential research agendas for those already engaged with the philosophy of economics. Provides a bridge between philosophy and current scientific findings Encourages multi-disciplinary dialogue Covers theory and applications