Revealed Preference, Afriat's Theorem, and Falsifiability: A Review Essay on Revealed Preference Theory by Christopher P. Chambers and Federico Echenique
31 Pages Posted: 2 Oct 2017
Date Written: September 15, 2017
This paper uses the 2016 book by Chambers and Echenique as the focal point for a general discussion of the revealed preference literature: starting with Samuelson (1938) but with a particular emphasis on its relationship to general equilibrium theory and recent empirical applications. The main purpose is exposition, not criticism, but Chambers and Echenique's commitment to Karl Popper's logical falsificationism is criticized in the final section of the paper.
Keywords: Revealed Preference Theory, General Equilibrium Theory, Samuelson, Popper, Falsification, Afriat
JEL Classification: B16, B31, B41, D11, D12
Suggested Citation: Suggested Citation