A Critique of the Neoclassical Approach to Consumer Choice

Authors

DOI:

https://doi.org/10.12775/DP.2021.011

Keywords:

neoclassical economics, consumers, choice, utility, perfect information

Abstract

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.

Downloads

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 4 July 2025]. DOI 10.12775/DP.2021.011.

Issue

No. 30 (2021)

Section

Libertarianizm i ekonomia

Stats

Number of views and downloads: 1084
Number of citations: 0