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Economic Theory and Operations Analysis. (Hendrik Houthakker's copy, with his signature.)

HOUTHAKKER, Hendrik Samuel 'Hank' 19242008) BAUMOL, William J.:

Published by Englewood Cliffs (N.J.): Prentice-Hall, 1961., 1961
Condition: Fine Hardcover
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Hendrik Houthakker's copy, with his signature on the half-title. x, 438 pp. Original cloth. Near Fine, without dust jacket. Prentice-Hall International Series in Management. Houthakker is mentioned in footnotes on pp. 166, 170. '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). Bookseller Inventory # 18246

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Title: Economic Theory and Operations Analysis. (...

Publisher: Englewood Cliffs (N.J.): Prentice-Hall, 1961.

Publication Date: 1961

Binding: Hardcover

Book Condition:Fine

Dust Jacket Condition: No Jacket

Edition: 1st Edition

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