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Francis Ysidro Edgeworth (1845–1926)

In: The Palgrave Companion to Oxford Economics

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  • John Creedy

    (Victoria University of Wellington)

Abstract

This chapter, after discussing Edgeworth’s association with Oxford and the nature of his approach to economics, examines his early work in moral philosophy, which is important in understanding his economics. Edgeworth’s contribution to the theory of exchange, involving his introduction of the contract curve and his eponymous ‘box diagram’, is then explained. This is shown to lead to his ‘social contract’ justification of utilitarianism. Edgeworth’s later work on monopoly, taxation and international trade is then discussed. His view of the central role of exchange in economics is stressed throughout.

Suggested Citation

  • John Creedy, 2021. "Francis Ysidro Edgeworth (1845–1926)," Springer Books, in: Robert A. Cord (ed.), The Palgrave Companion to Oxford Economics, edition 1, chapter 11, pages 257-282, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-58471-9_11
    DOI: 10.1007/978-3-030-58471-9_11
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    References listed on IDEAS

    as
    1. Sargan, J D, 1976. "Econometric Estimators and the Edgeworth Approximation," Econometrica, Econometric Society, vol. 44(3), pages 421-448, May.
    2. Creedy, John, 1994. "Exchange Equilibria: Bargaining, Utilitarian and Competitive Solutions," Australian Economic Papers, Wiley Blackwell, vol. 33(62), pages 34-52, June.
    3. Creedy, John, 1994. "Launhardt's Model of Exchange," Journal of the History of Economic Thought, Cambridge University Press, vol. 16(1), pages 40-60, April.
    4. Creedy, John, 1990. "Marshall and Edgeworth," Scottish Journal of Political Economy, Scottish Economic Society, vol. 37(1), pages 18-39, February.
    5. John C. Harsanyi, 1953. "Cardinal Utility in Welfare Economics and in the Theory of Risk-taking," Journal of Political Economy, University of Chicago Press, vol. 61(5), pages 434-434.
    6. John C. Harsanyi, 1955. "Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility," Journal of Political Economy, University of Chicago Press, vol. 63(4), pages 309-309.
    7. Creedy, John, 1988. " Wicksell on Edgeworth's Tax Paradox," Scandinavian Journal of Economics, Wiley Blackwell, vol. 90(1), pages 101-112.
    8. Harold Hotelling, 1932. "Edgeworth's Taxation Paradox and the Nature of Demand and Supply Functions," Journal of Political Economy, University of Chicago Press, vol. 40(5), pages 577-577.
    9. William Vickrey, 1960. "Utility, Strategy, and Social Decision Rules," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(4), pages 507-535.
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