Matches in DBpedia 2016-04 for { <http://dbpedia.org/resource/Kelvin_Lancaster> ?p ?o }
- Kelvin_Lancaster abstract "Kelvin John Lancaster (December 10, 1924 – July 23, 1999) was a mathematical economist and John Bates Clark professor of economics at Columbia University. He is best known for the development of the Theory of the Second Best with Richard Lipsey. Lancaster was also active in developing the calculus of qualitative economics, formulating the household production function, and applying the hedonic model to the estimation of housing prices.In a 1966 paper, Lancaster developed what he called a \"new theory of consumer demand\", in which the then standard microeconomic demand theory was modified by stipulating that what consumers are seeking to acquire is not goods themselves (e.g. cars or train journeys) but the characteristics they contain (e.g. transport from A to B, display of fashion sense). As Palda (2013) explainsThe second evolution in spatial economics was due to Kelvin Lancaster. His insight was that the basic qualities that consumers seek could be manipulated by combining different products. Hotelling had not considered this possibility. He had been content to accept that one good provided one underlying feature that could be measured in characteristics space. Lancaster saw the matter in greater breadth. Dinner was not just food on a table. It was an attempt to manipulate the basic constituents of flavor and nutrition into a satisfying gastronomic experience. Being a good cook meant knowing that taste had several dimensions including sweet, salty, sour, and savory. For a meal to be agreeable, it had to combine these elements of flavor and it also had to be easily digested, suggesting that nutritional dimensions such as greasiness, protein content, and temperature had to figure into the cook’s understanding. These basic culinary entities could each be thought of as lying on a left-right scale, or space. The ideal meal, then, sought to combine these features by varying each one as precisely as possible.This theory provides a convenient account of the difference between less developed (so called \"primitive\") consumption economies, in which there are fewer goods than characteristics, and more developed (\"sophisticated\") consumption economies, in which there are more goods than characteristics, so that consumers can secure any combination of characteristics they desire, subject only to budget constraints. It also provides a way of predicting demand for new commodities, so long as they do not embody any new characteristics.According to economist Jagdish Bhagwati, \"He was widely regarded as a potential recipient of the Nobel Prize, for the notable impact that had been made by his contributions to the theory of second best and the integration of variety into economic theory. He joins the list of extraordinary economists such as Joan Robinson, Roy Harrod, and Mancur Olson whom death deprived of this singular honor.\"Lancaster attended Sydney Boys High School, graduating in 1940.".
- Kelvin_Lancaster almaMater University_of_London.
- Kelvin_Lancaster almaMater University_of_London_International_Programmes.
- Kelvin_Lancaster almaMater University_of_Sydney.
- Kelvin_Lancaster birthDate "1924-12-10".
- Kelvin_Lancaster birthPlace Australia.
- Kelvin_Lancaster birthPlace Sydney.
- Kelvin_Lancaster deathDate "1999-07-23".
- Kelvin_Lancaster deathPlace New_York.
- Kelvin_Lancaster deathPlace New_York_City.
- Kelvin_Lancaster field Economics.
- Kelvin_Lancaster individualisedGnd "17067861X".
- Kelvin_Lancaster knownFor Lancastrian_demand_theory.
- Kelvin_Lancaster knownFor Theory_of_the_second_best.
- Kelvin_Lancaster wikiPageExternalLink fullpage.html?res=9C01E0D81F3EF93BA15754C0A96F958260.
- Kelvin_Lancaster wikiPageExternalLink talking_about_a_revolution.html.
- Kelvin_Lancaster wikiPageID "898849".
- Kelvin_Lancaster wikiPageLength "6482".
- Kelvin_Lancaster wikiPageOutDegree "40".
- Kelvin_Lancaster wikiPageRevisionID "703574178".
- Kelvin_Lancaster wikiPageWikiLink Australia.
- Kelvin_Lancaster wikiPageWikiLink Category:1924_births.
- Kelvin_Lancaster wikiPageWikiLink Category:1999_deaths.
- Kelvin_Lancaster wikiPageWikiLink Category:20th-century_economists.
- Kelvin_Lancaster wikiPageWikiLink Category:Alumni_of_the_University_of_London.
- Kelvin_Lancaster wikiPageWikiLink Category:Alumni_of_the_University_of_London_International_Programmes.
- Kelvin_Lancaster wikiPageWikiLink Category:American_economists.
- Kelvin_Lancaster wikiPageWikiLink Category:Columbia_University_faculty.
- Kelvin_Lancaster wikiPageWikiLink Category:University_of_Sydney_alumni.
- Kelvin_Lancaster wikiPageWikiLink Columbia_University.
- Kelvin_Lancaster wikiPageWikiLink Economics.
- Kelvin_Lancaster wikiPageWikiLink Harold_Hotelling.
- Kelvin_Lancaster wikiPageWikiLink Hedonic_regression.
- Kelvin_Lancaster wikiPageWikiLink Household_production_function.
- Kelvin_Lancaster wikiPageWikiLink Jagdish_Bhagwati.
- Kelvin_Lancaster wikiPageWikiLink Joan_Robinson.
- Kelvin_Lancaster wikiPageWikiLink John_Bates_Clark.
- Kelvin_Lancaster wikiPageWikiLink Lancastrian_demand_theory.
- Kelvin_Lancaster wikiPageWikiLink Mancur_Olson.
- Kelvin_Lancaster wikiPageWikiLink Mathematical_economics.
- Kelvin_Lancaster wikiPageWikiLink Microeconomics.
- Kelvin_Lancaster wikiPageWikiLink New_York.
- Kelvin_Lancaster wikiPageWikiLink New_York_City.
- Kelvin_Lancaster wikiPageWikiLink Paul_Krugman.
- Kelvin_Lancaster wikiPageWikiLink Professor.
- Kelvin_Lancaster wikiPageWikiLink Qualitative_economics.
- Kelvin_Lancaster wikiPageWikiLink Real_estate_appraisal.
- Kelvin_Lancaster wikiPageWikiLink Richard_Lipsey.
- Kelvin_Lancaster wikiPageWikiLink Roy_Harrod.
- Kelvin_Lancaster wikiPageWikiLink Supply_and_demand.
- Kelvin_Lancaster wikiPageWikiLink Sydney.
- Kelvin_Lancaster wikiPageWikiLink Sydney_Boys_High_School.
- Kelvin_Lancaster wikiPageWikiLink The_New_York_Times.
- Kelvin_Lancaster wikiPageWikiLink Theory_of_the_second_best.
- Kelvin_Lancaster wikiPageWikiLink University_of_London.
- Kelvin_Lancaster wikiPageWikiLink University_of_London_International_Programmes.
- Kelvin_Lancaster wikiPageWikiLink University_of_Sydney.
- Kelvin_Lancaster wikiPageWikiLinkText "Kelvin J. Lancaster".
- Kelvin_Lancaster wikiPageWikiLinkText "Kelvin Lancaster".
- Kelvin_Lancaster almaMater Sydney_Boys_High_School.
- Kelvin_Lancaster almaMater University_of_London.
- Kelvin_Lancaster almaMater University_of_London_International_Programmes.
- Kelvin_Lancaster almaMater University_of_Sydney.
- Kelvin_Lancaster birthDate "1924-12-10".
- Kelvin_Lancaster birthPlace Australia.
- Kelvin_Lancaster birthPlace Sydney.
- Kelvin_Lancaster caption "Kelvin John Lancaster".
- Kelvin_Lancaster deathDate "1999-07-23".
- Kelvin_Lancaster deathPlace New_York.
- Kelvin_Lancaster deathPlace New_York_City.
- Kelvin_Lancaster field Economics.
- Kelvin_Lancaster imageSize "60".
- Kelvin_Lancaster knownFor Lancastrian_demand_theory.
- Kelvin_Lancaster knownFor Theory_of_the_second_best.
- Kelvin_Lancaster name "Kelvin Lancaster".
- Kelvin_Lancaster occupation Professor.
- Kelvin_Lancaster wikiPageUsesTemplate Template:Authority_control.
- Kelvin_Lancaster wikiPageUsesTemplate Template:Birth_date.
- Kelvin_Lancaster wikiPageUsesTemplate Template:Death_date_and_age.
- Kelvin_Lancaster wikiPageUsesTemplate Template:Infobox_scientist.
- Kelvin_Lancaster wikiPageUsesTemplate Template:Reflist.
- Kelvin_Lancaster workInstitution Columbia_University.
- Kelvin_Lancaster subject Category:1924_births.
- Kelvin_Lancaster subject Category:1999_deaths.
- Kelvin_Lancaster subject Category:20th-century_economists.
- Kelvin_Lancaster subject Category:Alumni_of_the_University_of_London.
- Kelvin_Lancaster subject Category:Alumni_of_the_University_of_London_International_Programmes.
- Kelvin_Lancaster subject Category:American_economists.
- Kelvin_Lancaster subject Category:Columbia_University_faculty.
- Kelvin_Lancaster subject Category:University_of_Sydney_alumni.
- Kelvin_Lancaster hypernym Economist.
- Kelvin_Lancaster type Agent.
- Kelvin_Lancaster type Economist.
- Kelvin_Lancaster type Person.
- Kelvin_Lancaster type Scientist.
- Kelvin_Lancaster type Person.
- Kelvin_Lancaster type Economist.
- Kelvin_Lancaster type Scientist.
- Kelvin_Lancaster type Agent.
- Kelvin_Lancaster type NaturalPerson.