How mindless is standard economics really?
AbstractContrary to claims by Gul and Pesendorfer (2008), I show that standard economics makes use of non-choice evidence in a meaningful way. This is because standard economics solely grounded in the theory of choice is "incomplete". That is, it has content that can not be revealed with any general choice procedure.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 18080.
Date of creation: 22 Oct 2009
Date of revision:
Revealed preference; theory of choice; neuroeconomics; non-choice evidence; machines;
Other versions of this item:
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
- D60 - Microeconomics - - Welfare Economics - - - General
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
- D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-31 (All new papers)
- NEP-HPE-2009-10-31 (History & Philosophy of Economics)
- NEP-UPT-2009-10-31 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Caplin, Andrew & Schotter, Andrew, 2008. "The Foundations of Positive and Normative Economics: A Handbook," OUP Catalogue, Oxford University Press, number 9780195328318.
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