## The Collected Essays of Richard E. Quandt, Volume 1The articles are of a high standard throughout and give a good overview of his work. John Bates, The Economic Journal Professor Richard Quandt has made a unique contribution to the development of economics in the 20th century. The range and significance of his work has long required a collection of his essays which will allow his contribution to be assessed as a whole. Despite an early interest in microeconomic theory, Richard Quandt has devoted most of his career to econometrics and, in particular, to modal split estimation. More recently his work has focused on the econometrics of disequilibrium models with reference to both free market and planned economies. As well as presenting his many significant articles on microtheory, general econometrics, disequilibrium modelling, financial economics and the economics of planned economies, this collection will have a particular value for all scholars interested in the emergence of the new economies in Eastern Europe, a subject to which Professor Quandt has applied himself in recent years. This fascinating book includes an introduction by Professor Quandt describing his early life in Budapest and the circumstances which led him to study economics in America. |

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### Contents

Richard E Quandt 1967 On the Stability of Price Adjusting | 3 |

Richard E Quandt and James B Ramsey 1978 Estimating | 16 |

of Public Economics 22 199214 | 72 |

Copyright | |

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algorithm alternative AMERICAN ECONOMIC REVIEW analysis assumed assumption BAUMOL calculated choice coefficients commodities Complexity in regulation computational considered constraints CONSUMER BEHAVIOR consumer's corresponding cost functions Cournot defined demand and cost demand curve demand function depends discount rate distribution Econometric equation equilibrium error estimates example expected FIML Goldfeld Hence hijackings income increase indifference curves Journal least squares Lemma likelihood function linear programming marginal cost matrix maximizing maximum likelihood mean modal split mode nonlinear normal null hypothesis number of firms objective function observations obtained oligopoly optimal output parameters Pareto distribution period Poisson process preferred primitive characteristics Princeton probability problem procedure profit function quadratic quantity R. E. QUANDT random variable ratio regimes relative relevant Richard rules of thumb Section Simplex Method solution stability standard deviation Table Theorem THEORY OF CONSUMER tion TSLS2 two-stage least squares utility function variance vector yields zero