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Cambridge Journal of Economics Advance Access originally published online on March 22, 2006
Cambridge Journal of Economics 2006 30(6):901-922; doi:10.1093/cje/bej002
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© The Author 2006. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

Article

Economics and underdetermination: a case study of urban land and housing economics

Robert McMaster and Craig Watkins*

* University of Aberdeen and University of Sheffield, respectively

Address for correspondence: Department of Economics, University of Aberdeen; email: r.mcmaster{at}abdn.ac.uk

Abstract

Underdetermination, associated with the Duhem–Quine thesis, is a familiar if under-researched theme in economics. In the light of this, we examine the development of urban land and housing economics. Through its Cartesian dualistic delineation of theory and data, the contemporary mainstream approach appears unable to circumvent the problem of underdetermination. In effect, it employs the strong version of Duhem–Quine in its retention of the assumption of a single, unitary competitive market (and associated access–space trade-off). Conversely, we highlight the affinity of Ely's (and the later Columbia School's) approach to pragmatists Dewey and Peirce, which provides a more fruitful basis for explanation.

Key Words: Richard T. Ely • Duhem–Quine Thesis • Underdetermination • New Urban Economics • Theory–data dual

JEL classifications: B15, B31, B41, R00

Manuscript received May 19, 2003; final version received August 12, 2005.


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