Harold Hotelling’s (1895–1973) articles in mathematical economics from the 1930s are classics. Some are keystones of entire sub-disciplines of economic theory such as location economics [Hotelling (1929). Stability in competition. The Economic Journal, 39(153), 41–57] and natural resource economics [Hotelling (1931). Review of Review of mathematical introduction to economics, by Griffith C. Evans. The American Mathematical Monthly, 38(2), 101–103. https://doi.org/10.2307/2301858]; others are associated with significant theoretical results [Hotelling (1932). Edgeworth’s Taxation Paradox and the Nature of Demand and Supply functions. Journal of Political Economy, 40(5), 577–616; (1938). The general welfare in relation to Problems of Taxation and of Railway and Utility rates. Econometrica, 6(3), 242–269]. Yet, Hotelling’s place in the rising of mathematical economics is mostly a black hole in the history of economic thought. The present paper aims to provide a better understanding of Hotelling’s part in the history of mathematical economics. Using published as well as archival materials, it traces Hotelling’s itinerary in mathematical economics, observes Hotelling using mathematics and scrutinizes Hotelling’s methodological writings to capture the meaning of his models and concepts, in particular his concept of utility as a monetary surplus.
Harold Hotelling’s (1895–1973) articles in mathematical economics from the 1930s are classics. Some are keystones of entire sub-disciplines of economic theory such as location economics [Hotelling (1929). Stability in competition. The Economic Journal, 39(153), 41–57] and natural resource economics [Hotelling (1931). Review of Review of mathematical introduction to economics, by Griffith C. Evans. The American Mathematical Monthly, 38(2), 101–103. https://doi.org/10.2307/2301858]; others are associated with significant theoretical results [Hotelling (1932). Edgeworth’s Taxation Paradox and the Nature of Demand and Supply functions. Journal of Political Economy, 40(5), 577–616; (1938). The general welfare in relation to Problems of Taxation and of Railway and Utility rates. Econometrica, 6(3), 242–269]. Yet, Hotelling’s place in the rising of mathematical economics is mostly a black hole in the history of economic thought. The present paper aims to provide a better understanding of Hotelling’s part in the history of mathematical economics. Using published as well as archival materials, it traces Hotelling’s itinerary in mathematical economics, observes Hotelling using mathematics and scrutinizes Hotelling’s methodological writings to capture the meaning of his models and concepts, in particular his concept of utility as a monetary surplus.
Titre
en
Building Comparison Spaces: Harold Hotelling and Mathematics for Economics
Auteur(s)
Marion Gaspard1
, Thomas Michael Mueller2
1
TRIANGLE -
Triangle : action, discours, pensée politique et économique
( 145357 )
- 15, parvis René-Descartes - BP 7000 69342 LYON CEDEX 07
- France
École normale supérieure de Lyon ( 6818 )
;
Université Lumière - Lyon 2 ( 33804 )
;
Sciences Po Lyon - Institut d'études politiques de Lyon ( 59112 )
;
Université de Lyon ( 301088 )
;
Université Jean Monnet - Saint-Étienne ( 300284 )
;
Centre National de la Recherche Scientifique UMR5206 ( 441569 )
2
LED -
Laboratoire d'Economie Dionysien
( 173249 )
- Université Paris 8 Vincennes-Saint-Denis - 2 rue de la Liberté - 93526 Saint-Denis cedex
- France
Université Paris 8 Vincennes-Saint-Denis EA3391 ( 11141 )
Nom de la revue
Journal of Economic Methodology
(ISSN : 1350-178X, ISSN électronique : 1469-9427)
Publié par Taylor & Francis (Routledge)
Revue non référencée dans Sherpa-Romeo
Comité de lecture
Oui
Audience
Internationale
Langue du document
Anglais
Vulgarisation
Non
Date de publication
2021
Volume
28
Numéro
3
Page/Identifiant
255-273
Domaine(s)
Sciences de l'Homme et Société/Economies et finances
B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B2 - History of Economic Thought since 1925/B.B2.B21 - Microeconomics
B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B2 - History of Economic Thought since 1925/B.B2.B23 - Econometrics • Quantitative and Mathematical Studies
B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B3 - History of Economic Thought: Individuals/B.B3.B31 - Individuals
B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B4 - Economic Methodology/B.B4.B41 - Economic Methodology
Mots-clés
en
demand theory, Harold Hotelling, mathematization, welfare economics
Marion Gaspard, Thomas Michael Mueller. Building Comparison Spaces: Harold Hotelling and Mathematics for Economics. Journal of Economic Methodology, 2021, 28 (3), pp.255-273. ⟨10.1080/1350178X.2021.1936597⟩. ⟨halshs-03325941⟩