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A Note on Preference and Indifference in Economic Analysis

  • The Quarterly Journal of Austrian Economics

Tags Philosophy and MethodologyValue and Exchange

 

Volume 8, No. 4 (Winter 2005)

 

Nonetheless, Rothbard and Mises have been criticized by Nozick (1977) and Caplan (1999), for inconsistency in admitting the concept of indifference into economic analysis after all, even if only indirectly. These criticisms have been answered by Block (1980, 1999) and Hülsmann (1999). However, their answers, although largely correct, seem to bring less than full clarity to the matter. Setting out from Nozick’s criticism, I hope to remedy this deficiency here.

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Cite This Article

Hoppe, Hans-Hermann. "A Note on Preference and Indifference in Economic Analysis." The Quarterly Journal of Austrian Economics 8, No. 4 (Winter 2005): 87–91.