Image Not Available

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):

Published by Oxford: Clarendon Press, 1950., 1950
Used Condition: Near Fine Hardcover
From Ted Kottler, Bookseller (Redondo Beach, CA, U.S.A.)

AbeBooks Seller Since January 5, 2002

Quantity Available: 1

Buy Used
Price: US$ 95.00 Convert Currency
Shipping: US$ 6.50 Within U.S.A. Destination, Rates & Speeds
Add to basket

30 Day Return Policy

About this Item

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). Bookseller Inventory # 23648

Bibliographic Details

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

Publisher: Oxford: Clarendon Press, 1950.

Publication Date: 1950

Binding: Hardcover

Book Condition:Near Fine

Dust Jacket Condition: No Jacket

Edition: 1st Edition

Store Description

Visit Seller's Storefront

Terms of Sale:

CREDIT CARD ORDERS MAY ONLY BE ACCEPTED ON BEHALF OF ABE. Personal/bank/traveler's checks (made payable to Ted Kottler), money orders, international money orders are fine. All books are First Editions, in original cloth bindings, and in Very Good or better condition, unless otherwise noted. Returns: with prior notice and within 10 days. I am always interested in purchasing First Editions of scholarly, hardcover books in the history of science and the history of medicine, as well as First Edition...

More Information
Shipping Terms:

Shipping costs are based on books weighing 2.2 LB, or 1 KG. If your book order is heavy or oversized, we may contact you to let you know extra shipping is required.

List this Seller's Books

Payment Methods
accepted by seller

Visa Mastercard American Express

Check Money Order Cash Bank Draft