Reply To: Indifference Curves

#17610
jmherbener
Participant

In criticizing indifference curve analysis, it’s important to remember, that neoclassical economists don’t claim that people think in indifference curves, but that the economist can model human action by the behavior of economic agents that do so. In any case, Austrians make several points against indifference curve analysis.

Here is a short note by Peter Klein:

http://web.missouri.edu/~kleinp/misc/giffen.pdf

Here is longer piece by Walter Block:

http://www.walterblock.com/wp-content/uploads/2009/06/Reply-to-Caplan-on-Austrian-Economic-Methodology.pdf