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

See all articles by D. Wade Hands

D. Wade Hands

University of Puget Sound - Department of Economics

Date Written: September 15, 2017

Abstract

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

Hands, D. Wade, Revealed Preference, Afriat's Theorem, and Falsifiability: A Review Essay on Revealed Preference Theory by Christopher P. Chambers and Federico Echenique (September 15, 2017). Available at SSRN: https://ssrn.com/abstract=3045952 or http://dx.doi.org/10.2139/ssrn.3045952

D. Wade Hands (Contact Author)

University of Puget Sound - Department of Economics ( email )

Tacoma, WA 98416

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