Hicks' thread (out of the equilibrium labyrinth)
The work of John Hicks is an unending source of inspiration for many economists and an unsolved dilemma for most historians of economic thought. In these pages, a reconstruction of the continuity principle, the red thread of his evolution as a theorist is proposed. Hicks’ research was inspired by a program of analyzing a process of change from an out-of-equilibrium perspective. Non-measurable risk and the time-to-build being the natural issues at stake in actual economic behavior, he made the transaction costs the kingpin of his technique of thinking. These allowed him to dispense with any essential reference to equilibrium conditions and to revolve around the sequential relationship of learning and planning, which lays at the core of his “Continuation theory”. In fixing its building blocks, he was primed to allow for equilibrium assumptions as far as a vantage point on out-of-equilibrium dynamics was attainable.
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert A. Jones & Joseph M. Ostroy, 1979.
"Flexibilty and Uncertainty,"
UCLA Economics Working Papers
163, UCLA Department of Economics.
- Hicks, John, 1990. "The Unification of Macro-economics," Economic Journal, Royal Economic Society, vol. 100(401), pages 528-38, June.
- Amendola, Mario & Gaffard, Jean-Luc, 1998.
"Out of Equilibrium,"
Oxford University Press, number 9780198293804, June.
- Franco DONZELLI, 2010.
"Hicks on Walrasian equilibrium in the 1930s and beyond,"
Departmental Working Papers
2010-39, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Franco Donzelli, 2010. "Hicks on Walrasian Equilibrium in the 1930s and Beyond," UNIMI - Research Papers in Economics, Business, and Statistics unimi-1107, Universitá degli Studi di Milano.
- Hicks, John R, 1974. "Capital Controversies: Ancient and Modern," American Economic Review, American Economic Association, vol. 64(2), pages 307-16, May.
- Hicks, John, 1989. "A Market Theory of Money," OUP Catalogue, Oxford University Press, number 9780198287247, June.
- Burmeister, Edwin, 1974. "Synthesizing the Neo-Austrian and Alternative Approaches to Capital Theory: A Survey," Journal of Economic Literature, American Economic Association, vol. 12(2), pages 413-56, June.
- Hicks, J R, 1970. "A Neo-Austrian Growth Theory," Economic Journal, Royal Economic Society, vol. 80(318), pages 257-81, June.
- Hicks, John R [Sir], 1973. "Recollections and Documents," Economica, London School of Economics and Political Science, vol. 40(157), pages 2-11, February.
- Hicks, John, 1977. "Economic Perspectives: Further Essays on Money and Growth," OUP Catalogue, Oxford University Press, number 9780198284079, June.
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