Consistent Choice and Falsifiability of the MaximizationHypothesis

We examine the status of the maximization hypothesis in the positive economic theory ofrational choice. We argue that, contrary to a common belief, the maximization hypothesisdoes not play any role in large areas of positive rational choice theory. In contexts where itdoes, it is not logically possible for an observer to translate the restrictions implied by thishypothesis into restrictions on observed choice behavior...

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Authors:	Dasgupta, Indraneel ; Kumar, Subodh ; Pattanaik, Prasanta K.
Institutions:	University <Nottingham> / Department of Economics
Subject:	Wirtschaftstheorie \| Nutzenmaximierung \| Falsifizierbarkeit \| Falsifiability \| Verifikation \| verification

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Extent:	61440 bytes 16 p. application/pdf
Series:	The University of Nottingham / School of Economics - discussion papers DISCUSSION PAPER ; NO. 99/17
Type of publication:	Book / Working Paper
Language:	English
Classification:	B41 - Economic Methodology ; D10 - Household Behavior and Family Economics. General ; D21 - Firm Behavior ; Market research ; Study of commerce ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005869303