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The Axiomatic Structure of Empirical Content

Author

Listed:
  • Christopher P. Chambers
  • Federico Echenique
  • Eran Shmaya

Abstract

We define the empirical content of an economic theory as the least restrictive observationally equivalent theory. We show that the empirical content of a theory is captured by a certain kind of axiomatization, with axioms that are universal negations of conjunctions of atomic formulae.

Suggested Citation

  • 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.
    • Handle: RePEc:aea:aecrev:v:104:y:2014:i:8:p:2303-19
    Note: DOI: 10.1257/aer.104.8.2303
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    References listed on IDEAS

    as
    1. 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.
    2. Chambers,Christopher P. & Echenique,Federico, 2016. "Revealed Preference Theory," Cambridge Books, Cambridge University Press, number 9781107087804.
    3. Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-577, May.
    4. Caplin, Andrew & Schotter, Andrew, 2008. "The Foundations of Positive and Normative Economics: A Handbook," OUP Catalogue, Oxford University Press, number 9780195328318.
    5. Burkhard C. Schipper, 2009. "How mindless is standard economics really?," Working Papers 14, University of California, Davis, Department of Economics.
    6. Gilboa,Itzhak, 2009. "Theory of Decision under Uncertainty," Cambridge Books, Cambridge University Press, number 9780521741231.
    7. Schipper, Burkhard C, 2009. "How mindless is standard economics really?," MPRA Paper 18080, University Library of Munich, Germany.
    8. Donald Brown & Felix Kubler, 2008. "Computational Aspects of General Equilibrium Theory," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-540-76591-2, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ian Crawford & Bram De Rock, 2014. "Empirical Revealed Preference," Annual Review of Economics, Annual Reviews, vol. 6(1), pages 503-524, August.
    2. Chambers, Christopher P. & Yenmez, M. Bumin, 2018. "A simple characterization of responsive choice," Games and Economic Behavior, Elsevier, vol. 111(C), pages 217-221.
    3. Christopher P. Chambers & Federico Echenique & Nicolas S. Lambert, 2018. "Preference Identification," Papers 1807.11585, arXiv.org.
    4. Pierpaolo Angelini, 2023. "Probability Spaces Identifying Ordinal and Cardinal Utilities in Problems of an Economic Nature: New Issues and Perspectives," Mathematics, MDPI, vol. 11(20), pages 1-22, October.
    5. Mikhail Freer & Cesar Martinelli, 2018. "A Representation Theorem for General Revealed Preference," Working Papers ECARES 2018-28, ULB -- Universite Libre de Bruxelles.
    6. Mikhail Freer & César Martinelli, 2023. "An algebraic approach to revealed preference," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(3), pages 717-742, April.
    7. Christopher J. Tyson, 2018. "Rationalizability of menu preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 917-934, June.
    8. Chambers, Christopher P. & Echenique, Federico, 2020. "Spherical preferences," Journal of Economic Theory, Elsevier, vol. 189(C).
    9. Chambers, Christopher P. & Liu, Ce & Martinez, Seung-Keun, 2016. "A test for risk-averse expected utility," Journal of Economic Theory, Elsevier, vol. 163(C), pages 775-785.
    10. Mikhail Freer & Cesar Martinelli, 2018. "A Functional Approach to Revealed Preference," Working Papers 1070, George Mason University, Interdisciplinary Center for Economic Science.
    11. Mikhail Freer & Cesar Martinelli, 2018. "A Functional Approach to Revealed Preference," Working Papers 1070, George Mason University, Interdisciplinary Center for Economic Science.
    12. Segal, Uzi, 2023. "∀ or ∃?," Theoretical Economics, Econometric Society, vol. 18(1), January.
    13. Fabrizio Maturo & Pierpaolo Angelini, 2023. "Aggregate Bound Choices about Random and Nonrandom Goods Studied via a Nonlinear Analysis," Mathematics, MDPI, vol. 11(11), pages 1-30, May.
    14. Gorno, Leandro, 2019. "Revealed preference and identification," Journal of Economic Theory, Elsevier, vol. 183(C), pages 698-739.
    15. Federico Echenique, 2020. "New Developments in Revealed Preference Theory: Decisions Under Risk, Uncertainty, and Intertemporal Choice," Annual Review of Economics, Annual Reviews, vol. 12(1), pages 299-316, August.
    16. Ronen Gradwohl & Eran Shmaya, 2013. "Tractable Falsifiability," Discussion Papers 1564, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    17. Chambers, Christopher P. & Echenique, Federico & Shmaya, Eran, 2017. "General revealed preference theory," Theoretical Economics, Econometric Society, vol. 12(2), May.
    18. Ola Mahmoud, 2017. "On the consistency of choice," Theory and Decision, Springer, vol. 83(4), pages 547-572, December.

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    More about this item

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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