Mathematical Psychics

Edgeworth, F. Y. (1881). Mathematical Psychics: An Essay on the Application of Mathematics to the Moral Sciences.

Type

Book

Intellectual base

Review or monograph

Year

1881

Link

https://archive.org/details/mathematicalpsyc00edgeuoftmatched

Cited from

economics_finance, operations_research

Cited by

3 citations across 3 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Indifference Curves
  • The construct was first articulated visually by Edgeworth (1881)

    This sourceIntroduces the contract curve in mathematical economics — a precursor to the Pareto frontier — and represents the earliest systematic mathematical treatment of trade-offs between competing objectives.

• Multiobjective Optimization
  • This principle is a direct extension into optimization of Pareto's fundamental insight in welfare economics: that Pareto efficiency is a meaningful normative property (no one can be made better off without making someone worse off) that does not require interpersonal utility comparisons, while picking a specific Pareto-efficient allocation does require additional value judgments — a multi-criteria stance with mathematical-economics roots reaching back to Edgeworth (1881) and the contract-curve construction.

    This sourceIntroduces the contract curve in mathematical economics — a precursor to the Pareto frontier — and represents the earliest systematic mathematical treatment of trade-offs between competing objectives.

• Trade-offs
  • (3) Marginal rate of substitution: Along the frontier, a well-defined substitution rate exists

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