Foundations of Paul Samuelson's Revealed Preference Theory, Revised Edition
A study by the method of rational reconstruction
By Stanley Wong
Preface by Philip Mirowski
Routledge – 2009 – 180 pages
Originally published over two decades ago, this classic text within the philosophy of economics is a tour de force against revealed preference. It critically examines the research programme carried out by the Nobel Prize winner Paul Samuelson on the revealed preference approach to the theory of consumer behaviour. It also challenges two essential premises:
* that the programme has been completed
* that the various contributions of Samuelson are mutually consistent.
This text contains a new preface by Wong, in which he provides a detailed insight into the origins of his pioneering text, and a new introduction from Philip Mirowski, analyzing the impact The Foundation of Paul Samuelson’s Revealed Preference Theory has had on the discipline of economics as well as explaining why it remains core reading for economists today.
The defining statement of economic method, this book will be of interest to economists everywhere.
Preface Introduction 1. Understanding and Criticsim 2. The Hicks and Allen Programme 3. A New Theory 4. A Method of Revealing Preference 5. The Observational Equivalent of Ordinal Utility Theory 6. Epilogue Notes Bibliography Name Index Subject Index
Stanley Wong received his university education at Simon Fraser University, British Columbia and King’s College, Cambridge. He is currently practising law with a major Canadian law firm and holds an LL.B. from the University of Toronto as well as two degrees in economics.