The economic tradition and the constitution of science

There has been an institutional turn in the philosophy of science, which has led the discipline to become more concerned with understanding how the scientific process actually works. This paper argues that such a philosophy of science, which lies beyond only proposing a logic of science, has something to learn from economics. Economic thinking can be instrumental in understanding the actual scientific process, and in proposing proper institutions guiding scientific competition. It is, however, also argued that economics would benefit from overcoming the pure logic of choice inherent to the neoclassical approach, by further developing the institutional approach to economics.