Abstract
We provide a selective survey of the recent literature on the empirical implications of individually rational behavior in markets and games. We concentrate on work that develops empirical implications while making as few parametric assumptions as possible. We focus on two major themes: 1. the testable restrictions on the equilibrium manifold and the identification of economic fundamentals from the equilibrium manifold; and 2. the implications of the revealed preference theory of individual behavior for aggregated data.
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