Procedural Semantics and Economic Models
Procedural Semantics and Economic Models

Summary/Abstract: The aim of the article is to present issues regarding economic semantics. The keyproblem is fnding a satisfactory view of semantic interpretation for economicmodels. The author of the article suggests that an adequate version of proceduralsemantics can provide such a view. This theory combines semantic interpretationwith cognitive and practical activities of subjects which use economic models.Philosophical roots of procedural semantics come from the pragmatic and operational theory of meaning. The article contains a detailed discussion of operationalism in economics and a comparison of the specifcs of procedural approachto semantics with the philosophical and methodological characteristics of economic models. The version of procedural semantics used in the analysis is JanŻytkow’s semantics of operational procedures, in the light of which IrvingFisher’s Cash Loop Model is reconstructed. Directions for further studies ofprocedural explication of semantics economic models are also outlined, takinginto account the methodological specifcs of economic sciences.

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