Mathematical Psychics: An Essay on the Application of Mathematics to the Moral Sciences

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C.K. Paul & Company, 1881 - Economics, Mathematical - 150 pages
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Page 46 - ... unique, arrangement towards which the system tends under the operation of, may we say, a law of Nature, and which would be predictable if we knew beforehand the real requirements of each, or of the average, dealer; but there are an indefinite number of arrangements a priori possible, towards one of which the system is urged not by the concurrence of innumerable (as it were) neuter atoms eliminating chance, but (abstraction being made of custom) by what has been called the Art of Bargaining —...
Page 83 - ... il ne serait pas moins à propos d'introduire, au moyen d'un signe indéterminé, la loi inconnue de la demande, dans les combinaisons analytiques : car on sait que l'une des fonctions les plus importantes de l'analyse consiste précisément à assigner des relations déterminées entre des quantités dont les valeurs numériques et même les formes algébriques sont absolument inassignables.
Page 19 - See p. 6. the indefinite divisibility of l each article of contract (if any X deal with an indefinite number of Ys he must give each an indefinitely small portion of x) ; which might be erected into a separate condition. III. Any individual is free to recontract...
Page 127 - Dictionary, sub voce Law of Constant Return). The dictum of Edgeworth, that " to treat variables as constants is the characteristic vice of the unmathematical economist," might to-day be reversed : the mathematical economists have gone so far in correcting this vice that they can no longer conceive of a constant except as the result of the compensation of two equal and opposite variables.
Page 21 - IT do not increase together, but that, while one increases, the other decreases. It may be shown from a variety of points of view that the locus of the required point is — dx dy dy dx which locus it is here proposed to call the contractcurve.
Page 20 - The PROBLEM to which attention is specially directed in this introductory summary is : How far contract is indeterminate — an inquiry of more than theoretical importance, if it show not only that indeterminateness tends to prevent widely, but also in what direction an escape from its evils is to be sought.
Page 18 - There is free communication throughout a normal competitive field. You might suppose the constituent individuals collected at a point, or connected by telephones - an ideal supposition, but sufficiently approximate to existence or tendency for the purposes of abstract science. A perfect field of competition professes in addition certain properties peculiarly favourable to mathematical calculation; namely a certain indefinite multiplicity and...
Page 101 - ... a psychophysical machine, continually registering the height of pleasure experienced by an individual, exactly according to the verdict of consciousness, or rather diverging therefrom according to a law of errors.
Page 19 - IV. Any individual is free to contract with another independently of a third party ; eg, in simple exchange each contract is between two only, but secus in the entangled contract described in the example (p.
Page 104 - I should mention that Edgeworth himself was quite aware that this so-called first principle of Economics was not a particularly realistic one. Indeed, he felt that «the concrete nineteenth century man is for the most part an impure egoist, a mixed utilitarian...

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