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

1 comment:

  1. In future posts please put in a subject line. It makes it much easier to refer to the posts.

    It is my understanding that we use the Edgeworth Box today (it is in the second Excel homework) due to a different economsits, Bowley. And sometimes it is referred to as the Edgeworth-Bowley Box, to reflect that contribution.

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