Skip to main content

Decision Models and Preferences: The Pioneering Contributions of Ragnar Frisch

  • Conference paper
Constructing and Applying Objective Functions

Part of the book series: Lecture Notes in Economics and Mathematical Systems ((LNE,volume 510))

Abstract

This paper presents the pioneering contributions of Ragnar Frisch to the literature on formation of preferences and macroeconomic planning. A brief review of some of Frisch’s work in this and related areas is given. His interviewing approach to estimate preferences is outlined. It is hinted at how the interview technique can be applied to quantify preferences for a variety of decision makers.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Arrow, K. (1960): “The Work of Ragnar Frisch, Econometrician,” Econometrica, 28, 175–192.

    Article  Google Scholar 

  • Aslaksen, I. and O. Bjerkholt (1985): “Certainty equivalence procedures in decision-making under uncertainty: an empirical application”, in FØRSUND, F. R., M. HOEL & S. LONGVA (EDS.): Production, Multi-Sectoral Growth and Planning, Contributions to Economic Analysis 154, Amsterdam: North-Holland.

    Google Scholar 

  • Bjerkholt, O. (ED.) (1995): Foundation of Modern Econometrics The Selected Essays of Ragnar Frisch, Vols. I and II, Edward Elgar, Aldershot, UK.

    Google Scholar 

  • Bjerkholt, O. (1998): in STRØM (1998).

    Google Scholar 

  • Bjerve, P. J. (1998): in STRØM (1998).

    Google Scholar 

  • Edvardsen, K. (1970): “ A Survey of Ragnar Frisch’s Contribution to the Science of Economics,” De Economist, 118, 175–208

    Article  Google Scholar 

  • Frisch, R. (1926a): “Sur un problème d’économie pure,” Norsk Matematisk Forenings Skrifter, Series 1, No. 16, 1–40, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1926b): Sur les semi-invariants et moments employés dans l’étude des distributions statistiques, Skrifter utgitt av Det Norske Videnskaps-Akademi i Oslo, II. Historisk-Filosofisk Klasse. No. 3.

    Google Scholar 

  • Frisch, R. (1926C): “Kvantitativ formulering av den teoretiske økonomikks lover,” Statsøkonomisk Tidsskrift 40, 299–334.

    Google Scholar 

  • Frisch, R. (1932): New Methods in Measuring Marginal Utility, C.J.B. Mohr, Tübingen

    Google Scholar 

  • Frisch, R. (1933a): Pitfalls in the Statistical Construction of Demand and Supply Curves, Veröffentlichungen der Frankfurter Gesellschaft für Konjunkturforschung, Neue Folge Heft 5, Leipzig: Hans Buske Verlag, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1933b): “Monopole-Polypole-La notion de force dans l’économie,” Nationaløkonomisk Tidsskrift 71 (Supplement), 241–259, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1933C): “Propagation Problems and Impulse Problems in Dynamic Economics”, in: Economic Essays in Honour of Gustav Cassel, London: George Allen & Unwin Ltd., 171–205, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1934a): Statistical Confluence Analysis by Means of Complete Regression Systems, University Institute of Economics, Oslo, Publication No. 5.

    Google Scholar 

  • Frisch, R. (1934b): “Circulation Planning: Proposal for National Organization of a Commodity and Service Exchange,” Econometrica, 2, 258–336, Mathematical Apppendix, 422-435, also in BJERKHOLT (1995).

    Article  Google Scholar 

  • Frisch, R. (1936): “Annual Survey of General Economic Theory: The Problem of Index Numbers,” Econometrica 4, 1–38, also in BJERKHOLT (1995).

    Article  Google Scholar 

  • Frisch, R. (1938): Statistical Versus Theoretical Relations in Economic Macrodynamics, Paper prepared for the Business Cycle Conference at Cambridge, England July 18th-29th, 1938 to discuss Professor J. Tinbergen’s publications of 1938 for the League of Nations, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1946): “The Responsibility of the Econometrician,” Econometrica 14, 1–4, also in BJERKHOLT (1995).

    Article  Google Scholar 

  • Frisch, R. (1948): “Repercussion Studies at Oslo,” American Economic Review, 38, 363–72.

    Google Scholar 

  • Frisch, R. (1949): Om desisjonsmodeller, Memorandum from the Institute of Economics 28 September 1949, University of Oslo.

    Google Scholar 

  • Frisch, R. (1954): “La théorie de l’avantage collectif et les régions de Pareto,” Économie appliquée 7, 211–280, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1955): “The mathematical structure of a decision model: The Oslo Sub-model,” Metroeconomica 7, 111–136, also in BJERKHOLT (1995).

    Article  Google Scholar 

  • Frisch, R. (1961a): Preface to the Oslo Channel Model, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1961b): “Numerical Determination of a Quadratic Preference Function for Use in Macroeconomic Programming,” Giornale degli Economisti e Annali di Economia, 20, 3–43, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1963): “An Implementation System for for Optimal National Economic Planning without Detailed Quantity Fixation from a Central Authority,” Extrait des actes de la 3ème conférence Internationale de Recherche Operationelle, Dunod, 20–59, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1970): “From Utopian Theory to Practical Applications: The Case of Econometrics,” Reimpression de les prix Nobel en 1969, 213–243, also in BJERKHOLT (1995).

    Google Scholar 

  • Frisch, R. (1971a): Cooperation between Politicians and Econometricians on the Formalization of Political Preferences, The Federation of Swedish Industries, Stockholm.

    Google Scholar 

  • Frisch, R. (1971b): “Samarbeid mellom politikere og økonometrikere om formuleringen av politiske preferanser,” Sosialøkonomen 25, No. 6, 5–13.

    Google Scholar 

  • Hallett, A.H., and H. Rees (1983): Quantitative Economic Policies and Interactive Planning, Cambridge University Press, Cambridge, UK.

    Google Scholar 

  • Hendry, D.F., and M.S. Morgan (EDS.) (1995): The Foundation of Econometric Analysis, Cambridge, UK: Cambridge University Press.

    Google Scholar 

  • Johansen, L. (1969): “Ragnar Frisch’s Contribution to Economics, “The Swedish Journal of Economics, 71, 302–324

    Article  Google Scholar 

  • Johansen, L. (1974): “Establishing Preference Functions for macroeconomic Desision models,” European Economic Review, 5, 41–66.

    Article  Google Scholar 

  • Johansen, L. (1977): Lectures on Macroeconomic Planning. Part 1: General Aspects, Amsterdam: North-Holland.

    Google Scholar 

  • Johansen, L. (1978): Lectures on Macroeconomic Planning. Part 2: Planning under Uncertainty, Amsterdam: North-Holland.

    Google Scholar 

  • Makin, J. H. (1970): “Constraints on formulation of models for measuring revealed preferences of policy makers,” Kyklos 29, No. 4, 709–732.

    Article  Google Scholar 

  • Medelin, M.A., L.P. Aspedale, and D. Pachio (1994): “Commercialization and Price Response of a Bean-growing Farming System in Colombia,” Economic Development and Cultural Change, 795–816.

    Google Scholar 

  • Morgan, M. (1990): The History of Econometric Ideas, Cambridge University Press, Cambridge, UK

    Book  Google Scholar 

  • Oswald, A. J.(1985): “The Economic Theory of Trade Unions: An Introductory Survey,” Scandinavian Journal of Economics, 87, 160–93.

    Article  Google Scholar 

  • Rustem, B., and K. Velupillai (1984): “Cooperation between politicians and the econometricians and the search for optimal economic policy,” Journal of Policy Modeling 6, No. 3, 341–350.

    Article  Google Scholar 

  • StrØM, S. (1998): Econometrics and Economic Theory in the 20th Century, Econometric Society Monographs, 31, Cambridge University press, UK.

    Google Scholar 

  • Svensson, L.E.O. (1999): “Inflation Targeting as a Monetary Policy Rule,” Journal of Monetary Economics, 43, 607–54.

    Article  Google Scholar 

  • Tinbergen, J. (1939): Statistical Testing of Business Cycle Theories, Vols. I and II, Geneva: League of Nations.

    Google Scholar 

  • Tinbergen, J. (1952): On the Theory of Economic Policy, Contributions to Economic Analysis I, Amsterdam: North-Holland.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2002 Springer-Verlag Berlin Heidelberg

About this paper

Cite this paper

Bjerkholt, O., Strøm, S. (2002). Decision Models and Preferences: The Pioneering Contributions of Ragnar Frisch. In: Tangian, A.S., Gruber, J. (eds) Constructing and Applying Objective Functions. Lecture Notes in Economics and Mathematical Systems, vol 510. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-56038-5_2

Download citation

  • DOI: https://doi.org/10.1007/978-3-642-56038-5_2

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-42669-1

  • Online ISBN: 978-3-642-56038-5

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics