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Cambridge Journal of Economics Advance Access originally published online on September 25, 2006
Cambridge Journal of Economics 2007 31(2):291-307; doi:10.1093/cje/bel024
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© The Author 2006. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

On the application of mathematics to political economy'. The Edgeworth–Walras–Bortkievicz controversy, 1889–1891

Roberto Marchionatti*

* University of Torino

Address for correspondence: Department of Economics, University of Torino, via Po 53, 10124 Torino, Italy: email: roberto.marchionatti{at}unito.it

In the period of the first spread and consolidation of mathematical economics there was impotant debate on Walras's theory of exchange involving Edgeworth, Walras and Bortkievicz directly, and Marshall indirectly. The dispute may be traced back to issues involving the role of abstract reasoning and the use of mathematics in economics. The discussion reveals the clash of different methodological requirements: on the one hand, there is Walras's requirement of rigour and simplicity allowed by the reduction of economics to mathematical treatment; on the other hand, there is Edgeworth's requirement of greater realism in the model.

Key Words: Francis Edgeworth • Léon Walras • Walrasian entrepreneur • Tâtonnement • Mathematics

JEL classifications: B1, B3

Manuscript received August 26, 2005; final version received May 5, 2006.


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