Abstract
We define the empirical content of an economic theory as the least restrictive observationally equivalent theory. We show that the empirical content of a theory is captured by a certain kind of axiomatization, with axioms that are universal negations of conjunctions of atomic formulae.
Original language | English (US) |
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Pages (from-to) | 2303-2319 |
Number of pages | 17 |
Journal | American Economic Review |
Volume | 104 |
Issue number | 8 |
DOIs | |
State | Published - Aug 1 2014 |
ASJC Scopus subject areas
- Economics and Econometrics