(Chicago, The Econometric Society. 1958). Large8vo. Bound without wrappers in light green full cloth with gilt lettering to spine. In ""Econometrica, Journal of the Econometric Society, Volume 26, 1958"". Library label pasted on to pasted down front free end-paper and library stamp to front free end-paper. Frontispiece of Wassily Leontief (President of the Econometric Society, 1954). Minor miscolouring to title page, otherwise a fine and clean copy. [Tobin:] Pp. 24-36. [Entire issue: VIII, 641 pp. + 1 page of advertising + frontispiece).
First publication of economist James Tobin exceedingly influential Tobit model, ""a seminal contribution to the estimation and testing of multiple"". (Buiter, James Tobin - An appreciation of his contribution to economics, P. 18). The Tobit model is today a standard economic technique within econometrics. The Tobit model regression models with limited dependent variables statistical model to describe the relationship between a non-negative dependent variable.James Tobin (1918-2002) was a highly influential economist within Keynesian Economics in the 20th century. His academic work included pioneering contributions to the study of investment, fiscal and monetary policy and financial markets. He received the Nobel Memorial Prize in Economic Sciences in 1981.Outside of academia, Tobin was widely known for his suggestion of a tax on foreign exchange transactions, now known as the ""Tobin tax"". This was designed to reduce speculation in the international currency markets, which he saw as dangerous and unproductive. He suggested that the proceeds of the tax could be used to fund projects for the benefit of Third World countries, or to support the United Nations.The issue contain the following papers of interest:1. Deberu, Gerad. Stochastic Choice and Cardinal Utility, Pp. 440-44.1. Luce, R. Duncan. A Probabilistic Theory of Utility, P. 196-224.
Princeton, Princeton University Press, 1974. 8vo. In publisher's original full cloth with gilt lettering to spine in the original (price-clipped) dust-jacket. Vague stamp (""$5.45"") to half title. A very fine and clean copy. (10), 105, (1) pp.
First edition of perhaps the most controversial and debated treatise on taxation in the 20th century: The Tobin-Tax, a tax on all spot conversions of one currency into another designed to reduce speculation in the international currency markets, which he saw as dangerous and unproductive.In August 2009 in a roundtable interview in Prospect magazine, Adair Turner supported the idea of new global taxes on financial transactions, warning that the ""swollen"" financial sector paying excessive salaries had grown too big for society. Lord Turner's suggestion that a ""Tobin tax"" - named after James Tobin - should be considered for financial transactions made headlines around the world.In 1981 was awarded to James Tobin ""for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices"".In honor of Eliot Janeway's contributions as an economic historian, Princeton University endowed the Eliot Janeway lectures on historical economics. The present lecture was given in 1972 but was not published until 1974.