Irving Fisher

Table of contents


Irving Fisher (1867 -1947)

Irving Fisher was born at Saugerties, New York, the son of a Congregational minister. As did his father, Fisher studied at Yale. Mathematics was his favorite subject. He won first prize in a math contest even as a freshman; his doctoral dissertation,Mathematical Investigations in the Theory of Value and Prices (1892), was a landmark in the development of mathematical economics. This dissertation won immediate praise from no lesser figures than Francis Y. Edgeworth and Vilfredo Pareto, two renowned economists. Some 55 years later, Ragnar Frisch (eventual winner of the 1969 Nobel Prize in Economic Science) would say about Fisher: “He has been anywhere from a decade to two generations ahead of his time …. it will be hard to find any single work that has been more influential than Fisher’s dissertation. ” It is no wonder that Fisher was a full professor of political economy at Yale within seven years of graduation. He stayed there during his entire career.

Fisher’s main contributions lie in the theory of utility and consumer choice, the theory of interest and capital, and the theory of statistics (index numbers, distributed lags). These contributions are reflected in such works as The Nature of Capital and Income (1906), The Theory of Interest (1907), The Purchasing Power of Money (1911) -a great pioneering venture in econometrics – and The Making of Index Numbers (1922). In the Making of Index Numbers, Fisher tested many of the formulas introduced in this chapter by the criteria also discussed here.

The few formulas that got superlative ratings (such as the Edgeworth index and Fisher’s own ideal index) include quantity (or price) weights from both of the time periods or geographic areas involved in the price (or quantity) comparison that is being made. However, the inclusion of two sets of weights tends to make the construction of such indexes costly, which is the major reason why these highly rated indexes are rarely used. (One exception: The Bureau of Foreign Commerce of the U. S. Department of Commerce calculates monthly quantity indexes of exports and imports using Fisher’s formula. ) The works cited above established Fisher’s reputation as the country’s greatest scientific economist. As such, he served as president of the American Economic Association and was a founder and the first president of the Econometric Society. He also played a major role in the establishment of the Cowles Foundation (now at Yale) as a means to nurture mathematical and quantitative research in economics.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyStudyWriters
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Business and administrative studies
Excellent job
Customer 452773, March 9th, 2023
Criminal Justice
The paper was not accused of plagiarism and was written very well. I will let you know the grade once it is graded. Thank you
Customer 452671, April 26th, 2021
Criminal Justice
This has been the greatest help while I am recovering from an illness. Thank your team so much.
Customer 452671, May 2nd, 2021
excellent job made a 93
Customer 452773, March 22nd, 2023
Customer 452773, January 25th, 2024
thank you so much
Customer 452749, June 10th, 2021
English 101
IThank you
Customer 452631, April 6th, 2021
Leadership Studies
awesome work as always
Customer 452773, August 19th, 2023
Impressive writing
Customer 452547, February 6th, 2021
Business and administrative studies
excellent, got a 100
Customer 452773, May 17th, 2023
Human Resources Management (HRM)
excellent work
Customer 452773, July 3rd, 2023
Leadership Studies
excellent job
Customer 452773, July 28th, 2023
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp