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Refutable Theories of Value

In: Computational Aspects of General Equilibrium Theory

Author

Listed:
  • Donald J. Brown

    (Yale University)

  • Felix Kubler

    (University of Pennsylvania)

Abstract

In the introduction to his classic Foundations of Economic Analysis [Sam47], Paul Samuelson defines meaningful theorems as “hypotheses about empirical data which could conceivably be refuted if only under ideal conditions.” For three decades, the problems of existence, uniqueness and the stability of tâtonnement were at the core of the general equilibrium research program—see Blaug [Bla92], Ingaro and Israel [II90], and Weintraub [Wei85]. Are the theorems on existence, uniqueness and tâtonnement stability refutable propositions?

Suggested Citation

  • Donald J. Brown & Felix Kubler, 2008. "Refutable Theories of Value," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 1-10, Springer.
    • Handle: RePEc:spr:lnechp:978-3-540-76591-2_1
    DOI: 10.1007/978-3-540-76591-2_1
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    Citations

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    Cited by:

    1. Julio Deride & Alejandro Jofré & Roger J-B Wets, 2019. "Solving Deterministic and Stochastic Equilibrium Problems via Augmented Walrasian," Computational Economics, Springer;Society for Computational Economics, vol. 53(1), pages 315-342, January.
    2. Christopher P. Chambers & Federico Echenique & Eran Shmaya, 2014. "The Axiomatic Structure of Empirical Content," American Economic Review, American Economic Association, vol. 104(8), pages 2303-2319, August.
    3. Anat Bracha & Donald J Brown, 2007. "Affective Decision Making: a Behavioral Theory of Choice," Levine's Bibliography 122247000000001676, UCLA Department of Economics.
    4. Jinhui H. Bai & Roger Lagunoff, 2013. "Revealed Political Power," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(4), pages 1085-1115, November.
    5. Deb, Rahul, 2008. "Interdependent Preferences, Potential Games and Household Consumption," MPRA Paper 6818, University Library of Munich, Germany.
    6. Deb, Rahul, 2009. "A testable model of consumption with externalities," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1804-1816, July.
    7. Casey B. Mulligan, 2016. "Automated Economic Reasoning with Quantifier Elimination," NBER Working Papers 22922, National Bureau of Economic Research, Inc.

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