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T. Sugano, O. Tawara and T. Hosoya, "The development of rice farming and the village structure : (Series of village society reserch and study IV)"

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  • Economics


Mita Journal of Economics Leon Walras in the History of Utility Theory ■ ., ■ by Masao Fukuoka Torn Maruyama CovTespondence o f L6on WoItcls and Related Paper's edited by Prof. William : Jaffe. has solved a lot of interesting mysteries in the history of economic thought as well as provided numerous new facts and exciting episodes around Walras. In this paper, we will list up some new fs^ts elucidated by CovYesjiond&nce, and add interpretations to them, restricting. ourselves only to the development of his utility theory. Measurability of utility: Although Walras vaguely admitted the non-measurability of utility in his EUrrmits, he could not first understand its meaning exactly. However, he reached an almost full understanding through the correspondence with M. Poincare after*. 1901. Forms of utility functions: Walras adopted the additive .type of utility functions as Jevons and Menger did. And even after the discoveries of more general type of utility functions by Edgeworth and Fisher, he still sticked to the additive form. Why? His own answer was "just for simplicity." Walras* view on related goods may be explained on the same ground. Derivation of demand functions; The derivation of demand functions from utility maximi­ zation under some constraint is one of the crucial logics in general, equilibrium theory. It is A. P. Piccard who first solved this problem proposed by Walras in 1872. For this point, Walras was completely indebted to Piccard except for a slight generalization/ This important fact, had been neglected until Correspondence appeared. Integrability: The integrability problem was, of course, out of Walras* reach. But it should be noted that he showed a quick understanding of the economic meaning of this problem in the correspondence with H. Laurent and P. Boninsegni. The Formation Process of British National Insurance ' System (2) Social Thought and Labour Movement at the end of 19th Century i. X by Kanae lida ' ' , . ' ....バ In this essay t

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