James Tobin was an American economist who served on the Council of Economic Advisers and consulted with the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities. He contributed to the development of key ideas in the Keynesian economics of his generation and advocated government intervention in particular to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets. He also proposed an econometric model for censored dependent variables, the well-known tobit model.
Neoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as driven by the supply and demand model. According to this line of thought, the value of a good or service is determined through a hypothetical maximization of utility by income-constrained individuals and of profits by firms facing production costs and employing available information and factors of production. This approach has often been justified by appealing to rational choice theory.
Alfred Marshall was an English economist, and was one of the most influential economists of his time. His book Principles of Economics (1890) was the dominant economic textbook in England for many years. It brought the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics.
Marie-Esprit-Léon Walras was a French mathematical economist and Georgist. He formulated the marginal theory of value and pioneered the development of general equilibrium theory. Walras is best known for his book Éléments d'économie politique pure, a work that has contributed greatly to the mathematization of economics through the concept of general equilibrium. The definition of the role of the entrepreneur found in it was also taken up and amplified by Joseph Schumpeter.
John Dickson Carr was an American author of detective stories, who also published using the pseudonyms Carter Dickson, Carr Dickson, and Roger Fairbairn.
William Stanley Jevons was an English economist and logician.
Paul Anthony Samuelson was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory".
Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility. It states that the reason why the price of diamonds is higher than that of water, for example, owes to the greater additional satisfaction of the diamonds over the water. Thus, while the water has greater total utility, the diamond has greater marginal utility.
Francis Ysidro Edgeworth was an Anglo-Irish philosopher and political economist who made significant contributions to the methods of statistics during the 1880s. From 1891 onward, he was appointed the founding editor of The Economic Journal.
Hermann Heinrich Gossen was a German economist who is often regarded as the first to elaborate, in detail, a general theory of marginal utility.
John Fraser Muth was an American economist. He is "the father of the rational expectations revolution in economics", primarily due to his article "Rational Expectations and the Theory of Price Movements" from 1961.
Marshall Jevons is a fictitious crime writer invented and used by William L. Breit and Kenneth G. Elzinga, professors of economics at Trinity University, San Antonio, and the University of Virginia, respectively.
Murder at the Margin (1978) is a whodunnit written by U.S. economists William Breit and Kenneth G. Elzinga using the joint pseudonym Marshall Jevons. The novel introduces Harvard economist Henry Spearman, a small, middle-aged, balding man who, when faced with murder, turns into an amateur sleuth who solves crimes by means of economic reasoning.
The Second Confession is a detective novel by American author Rex Stout, featuring the character Nero Wolfe. The book was first published by the Viking Press in 1949. The story was also collected in other omnibus volumes, including Triple Zeck. This is the second of three Nero Wolfe novels that involve crime boss Arnold Zeck – Wolfe's Professor Moriarty. In this novel he telephones Wolfe to warn him off an investigation and retaliates when Wolfe refuses to cooperate. Though the crime is solved, the ending is left open.
Detective Inspector William Edward "Jack" Frost, GC QPM, is a fictional detective created by R. D. Wingfield—characterised as sloppy, untidy, hopeless with paperwork—but unmatched at solving mysteries. The character has appeared in two radio plays, ten published novels, and a TV series spanning 42 episodes between 1992 and 2010.
The history of economic thought is the study of the philosophies of the different thinkers and theories in the subjects that later became political economy and economics, from the ancient world to the present day.
Kenneth G. Elzinga is the Robert C. Taylor Professor of Economics at the University of Virginia. He is an antitrust expert and co-authored a highly successful quartet of murder mystery novels in which the sleuth, dubbed Henry Spearman, solves the murder using principles of economics.
In mainstream economics, marginal utility describes the change in utility of one unit of a good or service. Marginal utility can be positive, negative, or zero. Negative marginal utility implies that every additional unit consumed of a commodity causes more harm than good, leading to a decrease in overall utility. In contrast, positive marginal utility indicates that every additional unit consumed increases overall utility.
William Breit (1933–2011) was an American economist, mystery novelist, and professional comedian. Breit was born in New Orleans. He received his undergraduate and master's degrees from the University of Texas and his Ph.D. from Michigan State University in 1961. He was an Assistant and associate professor of economics at Louisiana State University (1961–1965) On the recommendation of Milton Friedman he was interviewed and hired at the University of Virginia where he was Associate Professor and Professor of Economics (1965–1983). He returned to his San Antonio as the E.M. Stevens Distinguished Professor of Economics at Trinity University in 1983 and retired as the Vernon F. Taylor Distinguished Professor Emeritus in 2002. He is considered an expert in the history of economic thought and anti-trust economics. He established the Nobel Laureate Lecture Series at Trinity University and is most notable as a mystery novelist where their murder mysteries are solved by applying basic economic principles.
The Mystery of the Yellow Room is a 1919 American crime drama film made by the Mayflower Photoplay Company and distributed through Realart Pictures Corporation. Émile Chautard served as a producer.
