"The British economist John Hicks is known for four contributions. The first is his introduction of the idea of the elasticity of substitution... His second major contribution is his invention of what is called the , a graphical depiction of the argument John Maynard Keynes gave in his ' (1936) about how an economy could be in equilibrium with less than full employment... Hicksās third major contribution is his 1939 book ', in which he showed that most of what economists then understood and believed about value theory (the theory about why goods have value) can be derived without having to assume that utility is measurable... Hicksās fourth contribution is the idea of the compensation test."
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Economists from EnglandUniversity of Oxford facultyUniversity of Oxford alumniNobel laureates in EconomicsNobel laureates from England
Original Language: English
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"John R. Hicks." The Concise Encyclopedia of Economics. 2008. Library of Economics and Liberty. 12 June 2014. .
https://en.wikiquote.org/wiki/John_Hicks
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John Hicks
Sir John Richard Hicks (8 April 1904 ā 20 May 1989) was a British economist, and economy professor at the and later the University of Oxford, who in 1972 received the Nobel Memorial Prize in Economic Sciences (jointly with Kenneth Arrow) for his pioneering contributions to general equilibrium theory and welfare theory.
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