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Irving Fisher, Ragnar Frisch and the Elusive Quest for Measurable Utility

Robert Dimand

No 2206, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Commitment to the behaviorist approach to utility theory, to the usefulness of mathematics in economic analysis and to equalization of the marginal utility of income as a principle of just taxation brought Irving Fisher and Ragnar Frisch to attempt to measure the marginal utility of income, and led them to collaborate in forming the Econometric Society and sponsoring the establishment of the Cowles Commission, institutions advancing economic theory in connection to mathematics and statistics. To be presented at a symposium at the University of Oslo, December 3, 2019, honoring the 50th anniversary of the award to Ragnar Frisch of the Royal Bank of Sweden Prize in Economic Science in Memory of Alfred Nobel and the 30th anniversary of the award of that prize to Trygve Haavelmo.

Keywords: Irving Fisher; Ragnar Frisch; Measurable utility; Axiomatic approach to utility (search for similar items in EconPapers)
JEL-codes: B1 B23 B31 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2019-11
New Economics Papers: this item is included in nep-his, nep-hpe, nep-ore and nep-upt
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