Inseparable Bedfellows: Imagination and Mathematics in Economic Modeling

Abstract

In this paper we explore the hypothesis that constrained uses of imagination are crucial to economic modeling. We propose a theoretical framework to develop this thesis through a number of specific hypotheses that we test and refine through six new, representative case studies. Our ultimate goal is to develop a philosophical account that is practice oriented and informed by empirical evidence. To do this, we deploy an abductive reasoning strategy. We start from a robust set of hypotheses and leave space for the generation of further hypotheses and theoretical claims based on the qualitative analysis of new empirical data.