Refutable Theories of Value

Donald J. Brown () and Felix Kubler
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Donald J. Brown: Yale University

A chapter in Computational Aspects of General Equilibrium Theory, 2008, pp 1-10 from Springer

Abstract: Abstract In the introduction to his classic Foundations of Economic Analysis [Sam47], Paul Samuelson defines meaningful theorems as “hypotheses about empirical data which could conceivably be refuted if only under ideal conditions.” For three decades, the problems of existence, uniqueness and the stability of tâtonnement were at the core of the general equilibrium research program—see Blaug [Bla92], Ingaro and Israel [II90], and Weintraub [Wei85]. Are the theorems on existence, uniqueness and tâtonnement stability refutable propositions?

Keywords: Walrasian Equilibrium; Individual Demand; General Equilibrium Theory; Pure Exchange Economy; Applied General Equilibrium (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-76591-2_1

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