By Julio Segura, Carlos Rodriguez Braun
An Eponymous Dictionary of Economics is an engaging and available reference paintings with entire insurance of the sphere of economics from Adam Smith’s challenge via Minkowski’s Theorem to Zellner’s Estimator. Eponymy - the perform of affixing the identify of the scientist to all or a part of what he/she has came upon - has many attention-grabbing gains yet just a only a few makes an attempt were made to take on the topic lexicographically in technological know-how and paintings. this is often the 1st eponymous dictionary of economics ever released in any language. There are 1000's of eponyms and the common economist will be familiar with, not to mention be ready to grasp, a comparatively limited variety of them. The Dictionary fills this void in a doable quantity that describes all appropriate monetary eponyms. a few infrequent yet fascinating eponyms also are integrated, many entries are cross-referenced and all have a succinct bibliography for additional studying. Julio Segura and Carlos Rodríguez Braun have assembled a different Dictionary that might be a useful and lots more and plenty welcomed reference booklet for monetary reporters, economists and financial students in any respect degrees of academe, and in all components of economics and its linked fields.
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Additional resources for An Eponymous Dictionary Of Economics: A Guide To Laws And Theorems Named After Economists
This conclusion is questioned by the theory of contestable markets. William J. 1922) originally formulated the theory in Baumol (1986) and Baumol et al. (1982). Contestable markets theory contends, under certain assumptions, that monopoly and efficiency prices are not so different. The idea is that, assuming the inexistence of barriers to entry, a monopoly firm has no 16 Baumol’s disease other choice than to establish prices as close as possible to efficiency or competitive market prices. Otherwise the monopoly would put in danger its continuity as the only firm in the market.
In microeconomics, it has been employed, for instance, to prove the existence and uniqueness of Cournot equilibrium. JUAN E. MARTÍNEZ LÓPEZ Bibliography Banach, Stefan (1922), ‘Sur les Opérations dans les ensembles abstraits et leur application aux équations intégrales’, Fundamenta Mathematicae, 3, 133–81. Van Long, Ngo and Antoine Soubeyran (2000), ‘Existence and uniqueness of Cournot equilibrium: a contraction mapping approach’, Economic Letters, 67 (3), 345–8. See also: Bellman’s principle of optimality and equations, Brouwer fixed point theorem, Cournot’s oligopoly model, Kakutani’s fixed point theorem.
1921, Nobel Prize in Economics 1972) is the author of this celebrated result which first appeared in Chapter V of Social Choice and Individual Values (1951). Paradoxically, Arrow called it initially the ‘general possibility theorem’, but it is always referred to as an impossibility theorem, given its essentially negative character. The theorem establishes the incompatibility among several axioms that might be satisfied (or not) by methods to aggregate individual preferences into social preferences.