Theoretic Models: Mathematical Form and Economic Content

The steady course on which mathematical economics has held for the past four decades sharply contrasts with its progress during the preceding century, which was marked by several major scientific accidents. One of them occurred in 1838, at the beginning of that period, with the publication of Augustin Cournot’s Recherches sur les Principes Mathematiques de la Theorie des Richesses. By its mathematical form and by its economic content, his book stands in splendid isolation in time; and in explaining its date historians of economic analysis in the first half of the nineteenth century must use a wide confidence interval.

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