Foundations of Paul Samuelson'as revealed preference theory

By:

Wong, Stanley

Material type: Text

TextPublication details: London; Routledge & Kegan Paul; 1978Description: 148 pISBN:

710086431

Subject(s):

Consumption(Economics)

DDC classification:

339.47 WON

Summary: This research programme, which we shall call the 'Samuelson Programme', was launched by Paul Samuelson (1938a) in 'A Note on the Pure Theory of Consumer's Behaviour'. In an attempt to dispense with the concept of "utility', as well as any other concept which does not correspond to observable phenomena, Samuelson proposed a new theory of consumer behaviour based on a postulate of consistency of behaviour. He believed that his theory, which is now known as revealed preference theory, succeeded in 'dropping off the last vestiges of utility analysis' (1938a, p. 62), because it consists only of observational terms, and therefore becomes amenable to empirical verification or refutation.

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Holdings
Item type	Current library	Call number	Status	Date due	Barcode	Item holds
Books	Gandhi Smriti Library	339.47 WON (Browse shelf(Opens below))	Available		927

Total holds: 0

This research programme, which we shall call the 'Samuelson Programme', was launched by Paul Samuelson (1938a) in 'A Note on the Pure Theory of Consumer's Behaviour'. In an attempt to dispense with the concept of "utility', as well as any other concept which does not correspond to observable phenomena, Samuelson proposed a new theory of consumer behaviour based on a postulate of consistency of behaviour. He believed that his theory, which is now known as revealed preference theory, succeeded in 'dropping off the last vestiges of utility analysis' (1938a, p. 62), because it consists only of observational terms, and therefore becomes amenable to empirical verification or refutation.

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