Profile Major Works Resources

Kelvin J. Lancaster, 1924-1999

Picture of K. Lancaster

Australian mathematical economist. 

After service in WWII, Lancaster enrolled at the University of Sydney to study mathematics and English.   Lancaster grew interested in economics after taking a job at the Research Services in Australia.  Lancaster was essentially self-taught in economics, and sat the B.Sc. exam from the University of London as an external candidate.  He taught as the LSE while working up to his Ph.D. (received in 1959).

Lancaster came to the US in 1962, taking up a position at Johns Hopkins.and subsequently became professor at Columbia in 1966.

Lancaster is perhaps best known for introducing the "theory of the second best" in welfare economics (with R.G. Lipsey,1956, while Lancaster was still a student) .  Lancaster also invented the "characteristics theory" of consumer demand (1966).

 

  

top1.gif (924 bytes)Top

Major Works of Kelvin J. Lancaster

  • "The General Theory of Second Best", with R. Lipsey, 1956-57, RES.
  • "Welfare Propositions in Terms of Consistency and Expanded Choice", 1958, EJ.
  • "An Axiomatic Theory of Consumer Time Preference", 1963, IER
  • "The Theory of Qualitative Linear Systems", 1965, Econometrica.
  • "A New Approach to Consumer Theory", 1966, JPE. [pdf]
  • Mathematical Economics, 1968.
  • Introduction to Modern Economics, 1969,
  • Consumer Demand: A new approach.  1971.
  • "Socially Optimal Product Differentiation", 1975, AER.
  • Variety, Equity and Efficiency, 1979.
  • "Intra-Industry Trade under Perfect Monopolistic Competition", 1980, JIE.
HET

 
top1.gif (924 bytes)Top

Resources on Kelvin Lancaster

 

 
top1.gif (924 bytes)Top
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

All rights reserved, Gonçalo L. Fonseca