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Richard Stone Quotes

1913–1991 England

Sir John Richard Nicholas Stone (30 August 1913 – 6 December 1991) was an eminent British economist who in 1984 received the Nobel Memorial Prize in Economic Sciences for developing an accounting model, that could be used to track economic activities on a national and, later, an international scale.

England
Economists
Nobel laureates

Random Richard Stone quote

3 quotes

There is no hope, as far as I can see, of pushing the postulates of economic theory back to a set of irreducible axioms.

Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.

A choice may have to be made between a biased estimator which is believed to be relatively accurate and an unbiased estimator which is demonstrably highly inefficient, and it is by no means obvious that the latter is always to be preferred.

Attribution

Quotes and notes from Wikiquote: Richard Stone (page history), available under CC BY-SA 4.0.