The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Transformations and Invariance

  • Dale K. Osborne
Reference work entry


Theories of measurement have applications throughout economics. Some applications are familiar because they are firmly established in the literature (think of utility theory and price indexes). But some are yet to be incorporated into the wider literature and many potential applications remain to be made. This entry does not survey the applications or the theories (see Pfanzagl 1968; Krantz et al. 1971 on theories of measurement), but (1) attempts to explain a certain kind of invariance principle and (2) shows how the principle can be applied to economic analysis.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Dale K. Osborne
    • 1
  1. 1.