This paper reports the results of three experiments on the neoclassical theory of consumer behavior. All these experiments were performed with the aim to simulate as closely as possible the behavior of consumers in the real world. Real goods, real money and the same incentives as in the real...

This paper reports the results of an experiment on the intertemporal model of consumer behavior with perfect foresight. A test using the theory of revealed preference show that a significant number of individuals have an inconsistent behavior. However, the average data are consistent with the...