Ebook: Henri Theil’s Contributions to Economics and Econometrics: Volume II: Consumer Demand Analysis and Information Theory

PREFACE TO THE COLLECTION PREAMBLE The editors are pleased to present a selection of Henri Theil's contributions to economics and econometrics in three volumes. In Volume I we have provided an overview of Theil's contributions, a brief biography, an annotated bibliography of his research, and a selection of published and unpublished articles and chapters in books dealing with topics in econometrics. Volume II contains Theil's contributions to demand analysis and information theory. Volume III includes Theil's contributions in economic policy and forecasting, and management science. The selection of articles is intended to provide examples of Theil's many seminal and pathbreaking contributions to economics in such areas as econometrics, statistics, demand analysis, information theory, economic policy analysis, aggregation theory, forecasting, index numbers, management science, sociology, operations research, higher education and much more. The collection is also intended to serve as a tribute to him on the occasion of his 68th birthday: These three volumes also highlight some of Theil's contributions and service to the profession as a leader, advisor, administrator, teacher, and researcher. Theil's contributions, which encompass many disciplines, have been extensively cited both in scientific and professional journals. These citations often place Theil among 10 researchers (ranked according to number of times cited) in the world in various the top disciplines.

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These three volumes contain an account of Professor Henri Theil's distinguished career as a leader, advisor, administrator, teacher, and researcher in economics and econometrics. The books also contain a selection of his contributions in many areas, such as econometrics, demand analysis, information theory, forecasting, statistics, economic policy analysis and management science. To date he has contributed over 250 articles in refereed journals and chapters in books, and 15 books, three of which became citation classics. His books and articles have appeared in (and have been translated into) many languages, such as Polish, Russian, Dutch, English, French, German, Hungarian, Italian and Japanese.
This collection provides excellent reference material to researchers and graduate students working in a variety of disciplines, such as econometrics, economics, management science, operations research, and statistics. Moreover, Professor Theil's career serves as a role model for younger generations of scholars, both in terms of his approach to research and his commitment to his profession.
Professor Theil's distinguished career as an academic began in 1953 when he was appointed Professor of Econometrics at the Netherlands School of Economics in Rotterdam (now Erasmus University). Three years later he founded the Econometric Institute in Rotterdam and served as its first director until 1966, when he accepted a joint appointment at the Graduate School of Business and Department of Economics, University of Chicago, U.S.A. In 1981, Theil was appointed to the McKethan-Matherly Eminent Chair at the Graduate School of Business Administration of the University of Florida in Gainesville. Theil has received many international honours including four honorary degrees.

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These three volumes contain an account of Professor Henri Theil's distinguished career as a leader, advisor, administrator, teacher, and researcher in economics and econometrics. The books also contain a selection of his contributions in many areas, such as econometrics, demand analysis, information theory, forecasting, statistics, economic policy analysis and management science. To date he has contributed over 250 articles in refereed journals and chapters in books, and 15 books, three of which became citation classics. His books and articles have appeared in (and have been translated into) many languages, such as Polish, Russian, Dutch, English, French, German, Hungarian, Italian and Japanese.
This collection provides excellent reference material to researchers and graduate students working in a variety of disciplines, such as econometrics, economics, management science, operations research, and statistics. Moreover, Professor Theil's career serves as a role model for younger generations of scholars, both in terms of his approach to research and his commitment to his profession.
Professor Theil's distinguished career as an academic began in 1953 when he was appointed Professor of Econometrics at the Netherlands School of Economics in Rotterdam (now Erasmus University). Three years later he founded the Econometric Institute in Rotterdam and served as its first director until 1966, when he accepted a joint appointment at the Graduate School of Business and Department of Economics, University of Chicago, U.S.A. In 1981, Theil was appointed to the McKethan-Matherly Eminent Chair at the Graduate School of Business Administration of the University of Florida in Gainesville. Theil has received many international honours including four honorary degrees.

Content:
Front Matter....Pages i-xxv
Front Matter....Pages 583-583
Qualities, Prices and Budget Enquiries....Pages 587-611
Substitution, Complementarity, and the Residual Variation Around Engel Curves....Pages 613-626
The Information Approach to Demand Analysis....Pages 627-651
Budget Share Transitions in the Netherlands, 1952–1977....Pages 803-808
Best Linear Index Numbers of Prices and Quantities....Pages 655-674
On the Geometry and the Numerical Approximation of Cost of Living and Real Income Indices....Pages 675-688
A New Index Number Formula....Pages 689-701
An Economic Theory of the Second Moments of Disturbances of Behavioral Equations....Pages 705-712
A Theory of Rational Random Behavior....Pages 713-724
The Effect of Measurement Errors on the Estimation of Demand Systems....Pages 727-731
The Two Perils of Symmetry-Constrained Estimation of Demand Systems....Pages 733-739
A Simple and Efficient Estimation Method for a Non-Linear Demand System....Pages 741-744
The Independence Transformation: A Review and Some Further Explorations....Pages 747-791
The Independence Transformation under Almost Additivity....Pages 793-797
Front Matter....Pages 799-799
Budget Share Transitions in the Netherlands, 1952–1977....Pages 803-808
International Inequalities and General Criteria for Development AID....Pages 811-835
International Comparisons of Prices and Quantities Consumed....Pages 837-861
Regional Per Capita Incomes and Income Inequalities: Point Estimates and Their Standard Errors....Pages 863-887
Inequality and Social Status in Successive Generations....Pages 889-904
World Income Inequality and its Components....Pages 905-908
The Development of International Inequality, 1960–1985....Pages 909-920
Front Matter....Pages 799-799
A Maximum Entropy Approach to the Specification of Distributed Lags....Pages 923-926
Information-Theoretic Measures of Fit for Univariate and Multivariate Linear Regressions....Pages 927-935
Linear Aggregation in Input-Output Analysis....Pages 939-954
The Information Approach to the Aggregation of Input-Output Tables....Pages 955-980
A Comparison of Shift-Share and the Ras Adjustment....Pages 981-987
On the Use of Information Theory Concepts in the Analysis of Financial Statements....Pages 991-1020
The Desired Political Entropy....Pages 1023-1032
A Note on the Measurement of Racial Integration of Schools by Means of Informational Concepts....Pages 1033-1040
Back Matter....Pages 1041-1046

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These three volumes contain an account of Professor Henri Theil's distinguished career as a leader, advisor, administrator, teacher, and researcher in economics and econometrics. The books also contain a selection of his contributions in many areas, such as econometrics, demand analysis, information theory, forecasting, statistics, economic policy analysis and management science. To date he has contributed over 250 articles in refereed journals and chapters in books, and 15 books, three of which became citation classics. His books and articles have appeared in (and have been translated into) many languages, such as Polish, Russian, Dutch, English, French, German, Hungarian, Italian and Japanese.
This collection provides excellent reference material to researchers and graduate students working in a variety of disciplines, such as econometrics, economics, management science, operations research, and statistics. Moreover, Professor Theil's career serves as a role model for younger generations of scholars, both in terms of his approach to research and his commitment to his profession.
Professor Theil's distinguished career as an academic began in 1953 when he was appointed Professor of Econometrics at the Netherlands School of Economics in Rotterdam (now Erasmus University). Three years later he founded the Econometric Institute in Rotterdam and served as its first director until 1966, when he accepted a joint appointment at the Graduate School of Business and Department of Economics, University of Chicago, U.S.A. In 1981, Theil was appointed to the McKethan-Matherly Eminent Chair at the Graduate School of Business Administration of the University of Florida in Gainesville. Theil has received many international honours including four honorary degrees.

Content:
Front Matter....Pages i-xxv
Front Matter....Pages 583-583
Qualities, Prices and Budget Enquiries....Pages 587-611
Substitution, Complementarity, and the Residual Variation Around Engel Curves....Pages 613-626
The Information Approach to Demand Analysis....Pages 627-651
Budget Share Transitions in the Netherlands, 1952–1977....Pages 803-808
Best Linear Index Numbers of Prices and Quantities....Pages 655-674
On the Geometry and the Numerical Approximation of Cost of Living and Real Income Indices....Pages 675-688
A New Index Number Formula....Pages 689-701
An Economic Theory of the Second Moments of Disturbances of Behavioral Equations....Pages 705-712
A Theory of Rational Random Behavior....Pages 713-724
The Effect of Measurement Errors on the Estimation of Demand Systems....Pages 727-731
The Two Perils of Symmetry-Constrained Estimation of Demand Systems....Pages 733-739
A Simple and Efficient Estimation Method for a Non-Linear Demand System....Pages 741-744
The Independence Transformation: A Review and Some Further Explorations....Pages 747-791
The Independence Transformation under Almost Additivity....Pages 793-797
Front Matter....Pages 799-799
Budget Share Transitions in the Netherlands, 1952–1977....Pages 803-808
International Inequalities and General Criteria for Development AID....Pages 811-835
International Comparisons of Prices and Quantities Consumed....Pages 837-861
Regional Per Capita Incomes and Income Inequalities: Point Estimates and Their Standard Errors....Pages 863-887
Inequality and Social Status in Successive Generations....Pages 889-904
World Income Inequality and its Components....Pages 905-908
The Development of International Inequality, 1960–1985....Pages 909-920
Front Matter....Pages 799-799
A Maximum Entropy Approach to the Specification of Distributed Lags....Pages 923-926
Information-Theoretic Measures of Fit for Univariate and Multivariate Linear Regressions....Pages 927-935
Linear Aggregation in Input-Output Analysis....Pages 939-954
The Information Approach to the Aggregation of Input-Output Tables....Pages 955-980
A Comparison of Shift-Share and the Ras Adjustment....Pages 981-987
On the Use of Information Theory Concepts in the Analysis of Financial Statements....Pages 991-1020
The Desired Political Entropy....Pages 1023-1032
A Note on the Measurement of Racial Integration of Schools by Means of Informational Concepts....Pages 1033-1040
Back Matter....Pages 1041-1046
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