A Critique of the Neoclassical Approach to Consumer Choice
DOI:
https://doi.org/10.12775/DP.2021.011Keywords:
neoclassical economics, consumers, choice, utility, perfect informationAbstract
In this paper we analyze neoclassical concepts such as utility maximization and indifference, in
order to identify their failure to explain consumer choice. Thus, we study the problems of indifference
analysis, and the process of human action itself. We provide a critique of the neoclassical
view of consumer choice and contrast it with the Austrian approach.
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Published
2021-04-13
How to Cite
1.
FUTERMAN, Alan G. and BLOCK, Walter E. A Critique of the Neoclassical Approach to Consumer Choice. Political Dialogues. Online. 13 April 2021. No. 30, pp. 201-228. [Accessed 1 July 2024]. DOI 10.12775/DP.2021.011.
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Section
Libertarianizm i ekonomia
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