This collection of essays results from the Economics Sessions of the Nafplion Colloquium on Research Programmes in Physics and Economics held in Nafplion, Greece, 2–14 September 1974. A separate volume, entitled Method and Appraisal in the Physical Sciences, edited by Colin Howson, contains the papers arising from the Physics Sessions of the Colloquium.

The idea of holding this Colloquium was first conceived by my friend and teacher, Imre Lakatos, Professor of Logic at the University of London until his death in 1974. Its central purpose was a synoptic examination of Lakatos's new and provocative methodology of scientific research programmes (MSRP) to developments in the physical sciences and in economic theory.

The papers by Coats, Latsis, Leijonhufvud and de Marchi were read during the meetings of the Colloquium and have been modified in the light of the discussions they provoked. Those by Hicks, Hutchison and Simon, on the other hand, were prepared after the Colloquium and arose from exchanges at the Sessions and informal discussions between the Sessions. Blaug's paper was circulated during the Colloquium and was later revised.

The central problem that binds together the contributions in this volume is the problem of theory-appraisal in economics. When is one economic theory better than another? Are there objective criteria for assessing the cognitive value of theories and what is the status of such criteria? Are there pragmatic temporary criteria? Or are there no articulable criteria at all?