Henri Theil’s Contributions to Economics and Econometrics: by Henri Theil (auth.), Baldev Raj, Johan Koerts (eds.)

By Henri Theil (auth.), Baldev Raj, Johan Koerts (eds.)

PREFACE TO the gathering PREAMBLE The editors are happy to offer a variety of Henri Theil's contributions to economics and econometrics in 3 volumes. In quantity I we have now supplied an summary of Theil's contributions, a short biography, an annotated bibliography of his examine, and a variety of released and unpublished articles and chapters in books facing themes in econometrics. quantity II comprises Theil's contributions to call for research and data idea. quantity III contains Theil's contributions in monetary coverage and forecasting, and administration technological know-how. the choice of articles is meant to supply examples of Theil's many seminal and pathbreaking contributions to economics in such components as econometrics, information, call for research, info conception, financial coverage research, aggregation idea, forecasting, index numbers, administration technology, sociology, operations learn, larger schooling and lots more and plenty extra. the gathering is additionally meant to function a tribute to him at the get together of his 68th birthday: those 3 volumes additionally spotlight a few of Theil's contributions and repair to the career as a pacesetter, consultant, administrator, instructor, and researcher. Theil's contributions, which surround many disciplines, were commonly pointed out either in clinical journals. those citations usually position Theil between 10 researchers (ranked in line with variety of occasions mentioned) on the planet in quite a few the pinnacle disciplines.

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Extra info for Henri Theil’s Contributions to Economics and Econometrics: Volume II: Consumer Demand Analysis and Information Theory

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Houthakker and SJ. 1. A section below will be devoted to a comparison of one of their hypotheses-which came to our attention just before this paper was completed-with our results. 2 THE MATERIAL; THE VARIABLES; THE EQUATIONS During the period March, 1934 - February, 1935, a budget enquiry was held in Amsterdam. The number of participating families was 184; a part of them consisted of clerical families, the remaining part being composed of families of manual workers. It will be observed that these K-terms are not invariant against changes of scale; this requires only an unimportant modification.

The sign of the covariance is no longer detennined by the degree to which i and j 6 -e3 is positive semi-definite, because it is possible to write -x'C3x as -z'Cz, which definite. is positive semi- 623 Substitution, Complementarity, and the Residual Variation around Engel Curves the budget. Instead, we should consider the substitution tenns in which i enters together with all commodities h, and also the tenns in which j enters with all k. In section 5 h and k were identical commodities, but this is no longer the case.

N. If this assumption is indeed satisfied, then the disturbances Vj of the Engel curves are subject to a probability distribution, and they are uncorrelated with income. The latter condition will be weakened in section 7. ·spect to their linear preference coefficients. 5. l) for the variance of the disturbances of the Engel curve for xj over the set of families participating in the survey. The mean value of vj is of course zero because of Assumption rna. 2) where is the covariance of the linear preference coefficients ah and at> which is, according to assumption rna, the same for all families.

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