The Axiomatic Structure of Empirical Content
- (pp. 2303-19)
AbstractWe define the empirical content of an economic theory as the least restrictive observationally equivalent theory. We show that the empirical content of a theory is captured by a certain kind of axiomatization, with axioms that are universal negations of conjunctions of atomic formulae.
Citation2014. "The Axiomatic Structure of Empirical Content." American Economic Review, 104(8): 2303-19. DOI: 10.1257/aer.104.8.2303
- B41 Economic Methodology
- D01 Microeconomic Behavior: Underlying Principles
- D11 Consumer Economics: Theory