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Published August 2014 | Published
Journal Article Open

The Axiomatic Structure of Empirical Content


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.

Additional Information

© 2014 American Economic Association. The authors thank Nageeb Ali, Yaron Azrieli, Bettina Klaus, Matias Iaryczower, Kota Saito, Tomasz Strzalecki, and Leeat Yariv for comments. We also thank four anonymous referees. Chambers and Echenique acknowledge support from the NSF through grant SES-0751980. The authors declare that they have no relevant material or financial interests that relate to the research described in this paper.

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