Refutable Theories of Value

  • Donald J. Brown
  • Felix Kubler
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 604)


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?


Walrasian Equilibrium Individual Demand General Equilibrium Theory Pure Exchange Economy Applied General Equilibrium 
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Copyright information

© Springer-Verlag Berlin Heidelberg 2008

Authors and Affiliations

  • Donald J. Brown
    • 1
  • Felix Kubler
    • 2
  1. 1.Yale UniversityNew Haven
  2. 2.University of PennsylvaniaPhiladelphia

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