Abstract
Harold Hotelling, a creative thinker in both mathematical statistics and economics, was born in Fulda, Minnesota, on 29 September 1895 and died in Chapel Hill, North Carolina, on 26 December 1973. His influence on the development of economic theory was deep, though it occupied a relatively small part of a highly productive scientific life devoted primarily to mathematical statistics; only ten of some 87 published papers were devoted to economics, but of these six are landmarks which continue to this day to lead to further developments. His major research, on mathematical statistics, had, further, a generally stimulating effect on the use of statistical methods in different specific fields of application, including econometrics.
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Selected Works
1925. A general mathematical theory of depreciation. Journal of the American Statistical Association 20, 340–53.
1927. Differential equations subject to error. Journal of the American Statistical Association 22, 283–314.
1929a. (With H. Working). Applications of the theory of error to the interpretation of trends. Journal of the American Statistical Association 24, 73–85.
1929b. Stability in competition. Economic Journal 39, 41–57.
1931a. The economics of exhaustible resources. Journal of Political Economy 39, 137–75.
1931b. The generalization of Student’s ratio. Annals of Mathematical Statistics 21, 360–78.
1932. Edgeworth’s taxation paradox and the nature of supply and demand functions. Journal of Political Economy 40, 577–616.
1933. Analysis of a complex of statistical variables with principal components. Journal of Educational Psychology 24, 417–41, 498–520.
1935. Demand functions with limited budgets. Econometrica 3, 66–78.
1936. Relation between two sets of variates. Biometrika 28, 321.
1938. The general welfare in relation to problems of taxation and of railway and utility rates. Econometrica 6, 242–69.
Bibliography
Dasgupta, P. and Maskin, E. 1986. The existence of equilibrium in discontinuous economic games, II: Applications. Review of Economic Studies 53, 27–41.
d’Aspremont, C., Gabszewicz, J.-J. and Thisse, J. 1979. On Hotelling’s ‘Stability in Competition’. Econometrica 47, 1145–50.
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© 1990 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Arrow, K.J. (1990). Harold Hotelling. In: Eatwell, J., Milgate, M., Newman, P. (eds) Time Series and Statistics. The New Palgrave. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20865-4_13
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