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An Empirical Theory of Pure Exchange:Individual Demand and Equilibrium

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  • Dominique, C-Rene

Abstract

SUMMARY: Scientists question the ‘scientificity’ of Neoclassical Economic Theory because microeconomics depends on an un-observable utility function, while the modern version of the theory requires that macroeconomics be built on microfoundations. The first step in remedying such an incongruous analytics is to use ‘naïve’ set theory to show that the utility function is indeed a misleading appendage.

Suggested Citation

  • Dominique, C-Rene, 2017. "An Empirical Theory of Pure Exchange:Individual Demand and Equilibrium," MPRA Paper 78716, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:78716
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    File URL: https://mpra.ub.uni-muenchen.de/78716/1/MPRA_paper_78694.pdf
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    References listed on IDEAS

    as
    1. Dominique, C-Rene, 2008. "Walrasian Solutions Without Utility Functions," MPRA Paper 8906, University Library of Munich, Germany, revised 2008.
    2. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
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    Cited by:

    1. C-René DOMINIQUE, 2017. "On The “Scientificity” Of Microeconomics: Individual Demand, And Exchange-Value Determination," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 8(2), pages 105-110.

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    More about this item

    Keywords

    KEYWORDS: Properties of Relations; Order Isomorphisms; Individual Demand; Equilibrium; Attractors’ Reconstruction;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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