This chapter is devoted to theoretical models, which are characterized by their reliance on deductive reasoning, their technique (social choice and game theory), and their level of abstraction. Although there are many ways to categorize models, we create a classification scheme that is consistent with the usefulness and purpose of models. Models serve in any one, or more, of four different roles: foundational, organizational, exploratory, and predictive. We argue that models should be judged, not by how well they predict, which is a common standard, but by how useful they are. This approach avoids the arbitrary precision of cookbook methodologies, and properly calls attention to the role of taste in choosing between theoretical models.
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