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A Contribution to the Theory of the Trade Cycle. (Hendrik Houthakker's copy, with his signature.)

HOUTHAKKER, Hendrik Samuel 'Hank' 1924-2008] HICKS, J. [John] R. (1904-1989):

Editorial: Oxford: Clarendon Press, 1950., 1950
Condición: Near Fine Encuadernación de tapa dura
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First Edition. Original cloth. Hendrik Houthakker's copy, with his pencil signature on the half-title. John R. Hicks: Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 1972 (shared with Kenneth J. Arrow), 'for their pioneering contributions to general economic equilibrium theory and welfare theory.'. 'Houthakker's contributions to economic theory have been summarized by Pollak (1990). He is particularly well known for the Strong Axiom of Revealed Preference, to which his name is often attached (see Houthakker 1950). This paper reconciles Paul Samuelson's revealed preference approach to demand theory with the earlier ordinal utility approach of Eugene Slutsky and Sir John Hicks, by showing that demand functions satisfy his Strong Axiom if and only if they can be generated by maximising a set of preferences that are 'well-behaved' in the sense that they satisfy the axioms of choice theory, that is, they are reflexive, transitive, complete, montononic, convex and continuous - essentially the conditions required for a Hicksian approach to demand theory' (Wikipedia). For Houthakker, see Pollak, R. A., 'Distinguished Fellow: Houthakker's Contributions to Economics' (Journal of Economic Perspectives, 4(2), 141-156, 1990). Houthakker 1950 = 'Revealed preference and the utility function' (Economica, New Series, 17, 159-174). In his Revision of Demand Theory (1956), Hicks say of Houthakker: ''But as [the seed of this book] has grown in my mind, it has been subjected to other influences: first of all that of Samuelson's book . . . then of those who may perhaps be called his followers, among whom Arrow, Little, and Houthakker must be especially mentioned. It was Houthakker's 1950 article, with its demonstration that transitivity is the 'logical' counterpart of integrability, which (from my point of view) supplied the missing link and tied the whole of the 'logical' theory together' (Preface, p. vi). 'It has been shown by H. S. Houthakker ('Revealed Preference and the Utility Function, Economica, 1950) that if a complete set of consistency tests is satisfied for all possible market situations within a given field, we can deduce transitivity and can therefore construct a complete system of ordering. This is a highly satisfactory conclusion to have attained; but the demonstration of it is very difficult, and it is fortunate that we do not need to make direct use of it in what follows' (ibid, p. 112). N° de ref. de la librería 23648

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Título: A Contribution to the Theory of the Trade ...

Editorial: Oxford: Clarendon Press, 1950.

Año de publicación: 1950

Encuadernación: Hardcover

Condición del libro:Near Fine

Condición de la sobrecubierta: No Jacket

Edición: 1st Edition

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