Lionel W. McKenzie has passed away at 91

by on October 12, 2010 at 10:48 am in Current Affairs, Economics | Permalink

Here is his Wikipedia page.  McKenzie was one of the most important figures in proving the existence of a competitive general equilibrium and also in developing the turnpike theorem.  Here is a short bio.  He was a formative factor in founding and shaping the graduate economics program at the University of Rochester, where he taught for decades.  He was especially famous in Japan for having taught and guided so many Japanese doctoral students.  His paper "Demand theory without a utility index" remains a classic, as it helped show how much of standard economics was independent of particular assumptions about utility.  He was an early influence on the idea of computing economic equilibria.  He also had respected papers in trade theory; here is McKenzie on

1 Mike Moffatt October 12, 2010 at 7:05 am

Quite sad – He was a great mentor and always had a helpful piece of advice for me and a couple generations of U of R grad students.

2 ysk October 13, 2010 at 4:38 am

"proving the existence of a competitive general equilibrium"
You mean a mathematical/ theoretical proof, right?

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