On Wed, 13 Feb 2002, john hull wrote:
> Newtonian physics. However, if preferences are
> constant over time, then the conservation rule should
> be satisfied, right? I think that is my weakest link.
Not quite. The "conservation rule" Mirowski talks about
is the same beast as the integrability condition discussed
in any advanced micro text. It is satisfied if consumer
choice is consistent with the Strong Axiom of Revealed
Preference. But there exist rational preference relations
that do not satisfy the integrability/SARP condition.
Cheers,
Chris Auld
Department of Economics
University of Calgary
[EMAIL PROTECTED]
