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What are axiomatizations good for?

  • Itzhak Gilboa
  • Andrew Postlewaite
  • Larry Samuelson
  • David Schmeidler
Article
  • 49 Downloads

Abstract

Do axiomatic derivations advance positive economics? If economists are interested in predicting how people behave, without a pretense to change individual decision making, how can they benefit from representation theorems, which are no more than equivalence results? We address these questions. We propose several ways in which representation results can be useful and discuss their implications for axiomatic decision theory.

Keywords

Axioms Axiomatization Representation theorem Decision theory 

Notes

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Copyright information

© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  • Itzhak Gilboa
    • 1
    • 2
  • Andrew Postlewaite
    • 3
  • Larry Samuelson
    • 4
  • David Schmeidler
    • 2
  1. 1.HEC, ParisJouy-en-JosasFrance
  2. 2.Tel-Aviv UniversityTel AvivIsrael
  3. 3.University of PennsylvaniaPhiladelphiaUSA
  4. 4.Department of EconomicsYale UniversityNew HavenUSA

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