John Richard Hicks facts for kids
Sir John Richard Hicks
Hicks in 1972
John Richard Hicks
8 April 1904
|Died||20 May 1989
Blockley, England, UK
|Institution||Gonville & Caius College, Cambridge
London School of Economics
University of Manchester
Nuffield College, Oxford
|Alma mater||Balliol College, Oxford|
|Influences||Léon Walras, Friedrich Hayek, Lionel Robbins, Erik Lindahl, John Maynard Keynes|
Capital theory, consumer theory, general equilibrium theory, welfare theory, induced innovation
|Awards||Nobel Memorial Prize in Economic Sciences (1972)|
|Information at IDEAS / RePEc|
Sir John Richard Hicks (8 April 1904 – 20 May 1989) was a British economist. He contributed to the fields of consumer demand theory in microeconomics. In 1937, he developed the IS/LM model which summarizes a Keynesian view of macroeconomics. His book Value and Capital (1939) significantly extended general-equilibrium and value theory. The compensated demand function is named the Hicksian demand function in memory of him.
He was made a Knight Bachelor in 1964.
In 1972 he received the Nobel Prize in Economic Sciences (jointly) for his pioneering contribution to general equilibrium theory and welfare theory. Hicks died on 20 May 1989 at his home in the Cotswold village of Blockley at the age of 85.
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