Authors
Topics
Lists
Pictures
Resources
More about Ragnar Frisch
Ragnar Frisch -
Utility
Quotes
2 Sourced Quotes
View all Ragnar Frisch Quotes
Source
Report...
Usually it is easier to obtain estimates for budget proportions and Engel elasticities than for elasticities with respect to price. By making certain want independence assumptions, the elasticities with respect to price can be deduced from the knowledge of budget proportions and Engel elasticities. In this connection the concept of the flexibility of the marginal utility of money is essential. A system of formulae decribing these relations is given.
Ragnar Frisch
Source
Report...
I approached the problem of utility measurement in 1923 during a stay in Paris. There were three objects I had in view:
(I) To point out the choice axioms that are implied when we think of utility as a quantity, and to define utility in a rigorous way by starting from a set of such axioms;
(II) To develop a method of measuring utility statistically;
(III) To apply the method to actual data.
Ragnar Frisch
Quote of the day
No written law has ever been more binding than unwritten custom supported by popular opinion.
Carrie Chapman Catt
Ragnar Frisch
Creative Commons
Born:
March 3, 1895
Died:
January 31, 1973
(aged 77)
More about Ragnar Frisch...
Featured Authors
Lists
Predictions that didn't happen
If it's on the Internet it must be true
Remarkable Last Words (or Near-Last Words)
Picture Quotes
Confucius
Philip James Bailey
Eleanor Roosevelt
Letitia Elizabeth Landon
Popular Topics
life
love
nature
time
god
power
human
mind
work
art
heart
thought
men
day
×
Lib Quotes