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Experts and Epistemic Monopolies by Roger Koppl

In almost every corner of our private and public lives we rely on experts to advise us. This important species of labor is getting increasing attention from economists, who are beginning to learn how lo apply their tools and assumptions to the problem of expertise. Under what conditions of supply and demand are experts likely to give us good advice? When is expert failure more likely? Do entrepreneurs challenge existing expertise? Are they experts themselves? Scientists are experts; does that mean they are truth seekers? In a world of high-value patents, does marketplace logic threaten the integrity of science? And if economists are themselves experts, what happens when we turn the skeptical gaze of economic theory on the economist herself?

This volume publishes papers given at the third biennial Wirth Institute Conference on Austrian Economics. It brings together a heterogeneous collection of thinkers, some "Austrian" and others not, to critically engage the problem of experts. While mostly agreeing that there is a problem of experts, the papers collected here approach the issue from a variety of often-complementary perspectives.

Product Details

ISBN-13: 9781781902165
Publisher: Emerald Group Publishing Limited
Publication date: 10/15/2012
Series: Advances in Austrian Economics , #17
Pages: 280
Product dimensions: 6.12(w) x 9.25(h) x 1.00(d)

Table of Contents

List of Contributors vii

Chapter 1 Speaking of Experts: An Introduction to the Volume Roger Koppl 1

Chapter 2 Opening Remarks Alfred Wirth 17

Chapter 3 If Germs Could Sponsor Research: Reflections on Sympathetic Connections Among Subjects and Researchers Sandra J. Peart David M. Levy 19

Chapter 4 Clash of the Titans: When the Market and Science Collide David F. Hardwick Leslie Marsh 37

Chapter 5 Expertise and the Conduct of Monetary Policy Steven Horwitz 61

Chapter 6 The Institutional Context of Epistemic Communities: Experts In P. T. Bauer's Work Diana W. Thomas 81

Chapter 7 Experts and Entrepreneurs Emily C. Skarbek 99

Chapter 8 The Epistemology of Entrepreneurship Arthur M. Diamond, Jr. 111

Chapter 9 A Race To the Top: Enabling Juries To Make Informed Decisions When Confronted With Forensic Evidence E. James Cowan 143

Chapter 10 Experts and Information Choice Roger Koppl 171

Chapter 11 Model Uncertainty and Empirical Policy Analysis in Economics: A Selective Review Steven N. Durlauf 203

Chapter 12 Schools of Thought in the Republic of Social Science Robert Garnett 227

Chapter 13 Nothing New Under the Sun? The Dialectic of Prudence and Justice in the Modern Era Laurent Dobuzinskis 245

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