The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Edgeworth, Francis Ysidro (1845–1926)

  • John Creedy
Reference work entry


Edgeworth was a major figure in the development of neoclassical economics, and one of its most original theorists, making a wide range of lasting contributions. After describing his approach to economics, this article discusses his early work in moral philosophy, which had a strong influence on his economics. His important contribution to the theory of exchange, focusing on indeterminacy and the role of the number of traders, is examined. His later work on monopoly, international trade and taxation are then briefly discussed.


Arbitration Assumptions Barter Bentham, J. Bickerdike, C. Bilateral monopoly Biological analogies Bootstrap Butler, J. Calculus of variations Coalitions Collusion Combinations Competitive (price-taking) equilibrium Complements: see substitutes and complements Conjectural variations Contract curve Correlation coefficient Cournot, A. Darwin, C. Deductive method Determinacy and indeterminacy of exchange Distributive justice Duopoly Edgeworth box Edgeworth, F. Egoism Equilibrium in exchange Experimental psychology First fundamental theorem of welfare economics Giffen good Harsanyi, J. Historical School Hotelling, H. Idealism Immiserizing growth Indeterminacy of contract Indifference map Inference International trade International values, theory of Intuitionism Jevons, W. Keynes, J. M. Lagrange multipliers Laplace, P. Launhardt, C. Law of indifference Marshall, A. Mathematical economics Mechanical analogies Mill, J. S. Monotonicity Moral philosophy Negative income tax Neoclassical No-profit entrepreneur Offer curve Optimal distribution Optimal tariffs Paley A. and M. Palgraves Dictionary of Political Economy Partial equilibrium theory Pearson distributions Physical sciences Pigou, A. Probability Progressive and regressive taxation Rate of exchange Reciprocal demand curve Recontracting Royal Statistical Society Rules of conduct Sacrifice theory of tax incidence Saddle point Schumpeter, J. Sidgwick, H. Social contract Social welfare function Statistical inference Substitutes and complements Tax incidence Taxation, theory of Transformations Utilitarianism Utility functions Utility maximization Vickrey, W. Walras, L. 

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I am grateful to Denis O’Brien and Steven Durlauf for comments on an earlier draft of this article.


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Authors and Affiliations

  • John Creedy
    • 1
  1. 1.