The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jan, 1959, Volume 27, Issue 1
https://doi.org/0012-9682(195901)27:1<1:QDOAOE>2.0.CO;2-X
p. 1-13
C. J. van Eijk, J. Sandee
To determine an optimum economic policy one needs: (a) a welfare function valuing "target" variables; (b) a model, describing the effect of policy "instruments" on the targets; and (c) limits within which the variables are allowed to vary. The welfare function is derived by "imaginary interviewing of the policy-makers." It is linearized in intervals or "facets." Linear programming indicates the optimum policy within each facet of the welfare function. A policy optimal with respect to all facets around it is the absolute optimum. By way of an appendix, a survey is given of the Multiplex Method of programming, developed by Professor R. Frisch, and particularly suited to this type of analysis.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
