American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
The Axiomatic Structure of Empirical Content
American Economic Review
vol. 104,
no. 8, August 2014
(pp. 2303–19)
Abstract
We 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.Citation
Chambers, Christopher P., Federico Echenique, and Eran Shmaya. 2014. "The Axiomatic Structure of Empirical Content." American Economic Review, 104 (8): 2303–19. DOI: 10.1257/aer.104.8.2303Additional Materials
JEL Classification
- B41 Economic Methodology
- D01 Microeconomic Behavior: Underlying Principles
- D11 Consumer Economics: Theory