Description
Book SynopsisProfessor Richard Quandt has made a unique contribution to the development of economics in the 20th century. The range and significance of his work has long required a collection of his essays which will allow his contribution to be assessed as a whole.
Despite an early interest in microeconomic theory, Richard Quandt has devoted most of his career to econometrics and, in particular, to modal split estimation. More recently his work has focused on the econometrics of disequilibrium models with reference to both free market and planned economies. As well as presenting his many significant articles on microtheory, general econometrics, disequilibrium modelling, financial economics and the economics of planned economies, this collection will have a particular value for all scholars interested in the emergence of the new economies in Eastern Europe, a subject to which Professor Quandt has applied himself in recent years.
This fascinating book includes an introduction by Professor Quandt describing his early life in Budapest and the circumstances which led him to study economics in America.
Trade Review'The articles are of a high standard throughout and give a good overview of his work.' -- John Bates, The Economic Journal
Table of ContentsVolume 1 Part 1 Microeconomic theory: a probabilistic theory of consumer behaviour, R.E. Quandt; on the existence of Cournot equilibrium, C.R. Frank Jr. and R.E. Quandt; on the stability of price adjusting oligopoly, R.E. Quandt; the dynamics of the number of firms in an industry, E.P. Howrey and R.E. Quandt; rules of thumb and optimally imperfect decisions, W.J. Baumol and R.E. Quandt; complexity in regulation, R.E. Quandt; investment and discount rates under capital rationing - a programming approach, W.J. Baumol and R.E. Quandt; an experimental study of the simplex method, H.W. Kuhn and R.E. Quandt; on the upper bound for the number of iteration in solving linear programs, H.W. Kuhn and R.E. Quandt; on an integer program for a delivery program, M.L. Balinski and R.E. Quandt. Part 2 General econometrics: the estimation of the parameters of a linear regression system obeying two separate regimes, R.E. Quandt; tests of the hypothesis that a linear regression system obeys two separate regimes, R.E. Quandt; a new approach to estimating switching regressions, R.E. Quandt; a Markov model for switching regressions, S.M. Goldfeld and R.E. Quandt; some statistical characterizations of aircraft hijacking, R.E. Quandt; estimating mixtures of normal distributions and switching regressions, J.B. Ramsey and R.E. Quandt; a comparison of methods for testing nonnested hypotheses, R.E. Quandt; on the size distribution of firms, R.E. Quandt; some tests for homoscedasticity, S.M. Goldfeld and R.E. Quandt; on certain small sample properties of k-class estimators, R.E. Quandt; nonlinear simultaneous equations - estimation and prediction, S.M. Goldfeld and R.E. Quandt; the demand for abstract transport modes - theory and measurement, W.J. Baumol and R.E Quandt; estimation of modal splits, R.E. Quandt; maximization by quadratic hill-climbing, S.M. Goldfeld et al. Volume 2 Part 1 Disequilibrium econometrics: estimation in a disequilibrium model and the value of information, S.M. Goldfeld and R.E. Quandt; tests of the equilibrium vs. disequilibrium hypotheses, R.E Quandt; a note on estimating disequilibrium models with aggregation, R.E. Quandt; single-market disequilibrium models - estimation and testing, S.M. Goldfeld and R.E. Quandt; estimation in multimarket disequilibrium models, S.M. Goldfeld and R.E Quandt; econometric modelling with non-normal disturbances, S.M. Goldfeld and R.E. Quandt; switching between equilibrium and disequilibrium, R.E Quandt.
