Edgeworth, Francis Ysidro (1845–1926)
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by
Steven
N.
Durlauf
and
Lawrence
E.
Blume
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Abstract
Edgeworth was a major figure in the development of neoclassical economics, and one of its most original theorists, making a wide range of lasting contributions. After describing his approach to economics, this article discusses his early work in moral philosophy, which had a strong influence on his economics. His important contribution to the theory of exchange, focusing on indeterminacy and the role of the number of traders, is examined. His later work on monopoly, international trade and taxation are then briefly discussed.
Keywords
arbitration; assumptions; barter; Bentham, J.; Bickerdike, C.; bilateral monopoly; biological analogies; bootstrap; Butler, J.; calculus of variations; coalitions; collusion; combinations; competitive (price-taking) equilibrium; complements: see substitutes and complements; conjectural variations; contract curve; correlation coefficient; Cournot, A.; Darwin, C.; deductive method; determinacy and indeterminacy of exchange; distributive justice; Duopoly; Edgeworth box; Edgeworth, F.; egoism; equilibrium in exchange; experimental psychology; first fundamental theorem of welfare economics; Giffen good; Harsanyi, J.; Historical School; Hotelling, H.; idealism; immiserizing growth; indeterminacy of contract; indifference map; inference; international trade; international values, theory of; intuitionism; Jevons, W.; Keynes, J. M.; Lagrange multipliers; Laplace, P.; Launhardt, C.; law of indifference; Marshall, A.; mathematical economics; mechanical analogies; Mill, J. S.; monotonicity; moral philosophy; negative income tax; neoclassical; no-profit entrepreneur; offer curve; optimal distribution; optimal tariffs; Paley A. and M.;
Palgrave's Dictionary of Political Economy
; partial equilibrium theory; Pearson distributions; physical sciences; Pigou, A.; probability; progressive and regressive taxation; rate of exchange; reciprocal demand curve; recontracting; Royal Statistical Society; rules of conduct; sacrifice theory of tax incidence; saddle point; Schumpeter, J.; Sidgwick, H.; social contract; social welfare function; statistical inference; substitutes and complements; tax incidence; taxation, theory of; transformations; utilitarianism; utility functions; utility maximization; Vickrey, W.; Walras, L.
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How to cite this article
Creedy, John. "Edgeworth, Francis Ysidro (1845–1926)." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 11 August 2017 <http://www.dictionaryofeconomics.com/article?id=pde2008_E000041> doi:10.1057/9780230226203.0446