JEVONS AND MENGER RE-HOMOGENIZED - JAFFE AFTER 20 YEARS

Following Jaffe's 1976 argument, the effort to de-homogenize Jevons, W alras, and Menger may have obscured some key similarities between Jevo ns and Menger. The article argues that Jevons's view of human behavior is more complex than has been allowed, and has much in common with Me nger's predisposition for process, uncertainty, mistakes, and the sign ificance of time in decision making. Some of the key features of the M engerian economic being, features that have often been used to portray him as the ''odd man out'' among the triumvirate, also characterize J evons's decision makers. For both Menger and Jevons, the decision make r is plagued by error, indecision, and information gaps.