Beschreibung
Hendrik Houthakker's copy, with his pencil signature on the half-title. 200 pp; ads. Original cloth. Very Good+, without dust jacket. The Library of Economics. Arthur Lewis: Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 1979 (shared with Theodore W. Schultz), 'for their pioneering research into economic development research with particular consideration of the problems of developing countries.' '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). Bestandsnummer des Verkäufers 18135
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