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An Empirical Theory of Pure Exchange:Individual Demand and Equilibrium

Dominique, C-Rene (2017): An Empirical Theory of Pure Exchange:Individual Demand and Equilibrium.

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Abstract

SUMMARY: Scientists question the ‘scientificity’ of Neoclassical Economic Theory because microeconomics depends on an un-observable utility function, while the modern version of the theory requires that macroeconomics be built on microfoundations. The first step in remedying such an incongruous analytics is to use ‘naïve’ set theory to show that the utility function is indeed a misleading appendage.

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