Saturday, August 29, 2015

Francis Edgeworth lived for 81 years, from 1845 to 1926, and in that time became a very well respected economist. And while his work wasn't always widely accepted in his lifetime, he is considered to have contributed a great deal to economics in the early 20th century. A few of his contributions include: the 'Edgeworth Conjecture' which postulates that as the number of subjects in an economy increases, the indeterminacy or uncertainty decreases. Another of his contributions is the 'Edgeworth Box', which is a visual tool created to conceptualize different distributions of economic resources. these are just a couple of the contributions made by Francis Edgeworth, and while his contributions were numerous, he never gathered a very large following or formed a school of thought and thus i hadn't heard of him before doing this research. However, because much of Edgeworth's work was focused in microeconomics, specifically welfare economics there is a chance we will discuss some of his work in this course.

Source: http://www.newworldencyclopedia.org/entry/Francis_Ysidro_Edgeworth#Edgeworth_limit_theorem