Robbins argues that the fundamental propositions of microeconomic theory are deductions from the assumption that individuals act on consistent preferences; this 'indisputable fact of experience' does not need to be validated in controlled experiments. While recognising that some neoclassical...

The Harless-Camerer (HC), Hey-Orme (HO), and random preference (RP) models of stochastic variation in choice under uncertainty are compared. Implications of these models, including some that are independent of the deterministic theory with which they are combined, are tested in an experiment in...