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On The “Scientificity” Of Microeconomics: Individual Demand, And Exchange-Value Determination

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  • C-René DOMINIQUE

    (Laval University, Québec, Canada)

Abstract

This note examines how the concept of utility has led neo-classical economists astray. It first briefly reviews the thoughts of the early pioneers who have engaged these economists on the utility trail. It next scrutinizes the requirements imposed on the preference set of the consumer in view of extracting a utility function having anticipative properties. Then it shows how set theory can solve the dynamic exchange process and value determination without any need for a utility function.

Suggested Citation

  • 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.
    • Handle: RePEc:srs:jtpref:v:8:y:2017:i:2:p:105-110
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    References listed on IDEAS

    as
    1. Mantel, Rolf R., 1974. "On the characterization of aggregate excess demand," Journal of Economic Theory, Elsevier, vol. 7(3), pages 348-353, March.
    2. Sonnenschein, Hugo, 1973. "Do Walras' identity and continuity characterize the class of community excess demand functions?," Journal of Economic Theory, Elsevier, vol. 6(4), pages 345-354, August.
    3. Dominique, C-Rene, 2017. "An Empirical Theory of Pure Exchange:Individual Demand and Equilibrium," MPRA Paper 78716, University Library of Munich, Germany.
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    Cited by:

    1. Dominique, C-Rene, 2018. "Could Noise Spectra of Strange Attractors Better Explained Wealth and Income Inequalities? Evidence from the S&P-500 Index," MPRA Paper 84182, University Library of Munich, Germany.

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    More about this item

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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