‎"TOBIN, JAMES.‎
‎Estimation of Relationships for Limited Dependent Variables. - [FIRST PUBLICATION OF THE TOBIT MODEL]‎

‎(Chicago, The Econometric Society. 1958). Large8vo. Bound without wrappers in light green full cloth with gilt lettering to spine. In ""Econometrica, Journal of the Econometric Society, Volume 26, 1958"". Library label pasted on to pasted down front free end-paper and library stamp to front free end-paper. Frontispiece of Wassily Leontief (President of the Econometric Society, 1954). Minor miscolouring to title page, otherwise a fine and clean copy. [Tobin:] Pp. 24-36. [Entire issue: VIII, 641 pp. + 1 page of advertising + frontispiece).‎

Reference : 44995

‎First publication of economist James Tobin exceedingly influential Tobit model, ""a seminal contribution to the estimation and testing of multiple"". (Buiter, James Tobin - An appreciation of his contribution to economics, P. 18). The Tobit model is today a standard economic technique within econometrics. The Tobit model regression models with limited dependent variables statistical model to describe the relationship between a non-negative dependent variable.James Tobin (1918-2002) was a highly influential economist within Keynesian Economics in the 20th century. His academic work included pioneering contributions to the study of investment, fiscal and monetary policy and financial markets. He received the Nobel Memorial Prize in Economic Sciences in 1981.Outside of academia, Tobin was widely known for his suggestion of a tax on foreign exchange transactions, now known as the ""Tobin tax"". This was designed to reduce speculation in the international currency markets, which he saw as dangerous and unproductive. He suggested that the proceeds of the tax could be used to fund projects for the benefit of Third World countries, or to support the United Nations.The issue contain the following papers of interest:1. Deberu, Gerad. Stochastic Choice and Cardinal Utility, Pp. 440-44.1. Luce, R. Duncan. A Probabilistic Theory of Utility, P. 196-224.‎