ABSTRACT

In the addendum to the original paper, he wrote: ‘In the February issue of this journal I suggested that the theory of consumer’s behaviour could be founded on three postulates’ (1938b, p. 353). In a paper on the empirical implications of ordinal utility theory,4 he reiterated (1938c, p. 346, emphasis added):

Recently I proposed a new postulational base upon which to construct a theory of consumer’s behavior. It was there shown that from this starting point could be erected a theory which included all the elements of the previous analysis.