John R. Hicks

Definition of 'John R. Hicks'


A British economist who received the 1972 Nobel Memorial Prize in Economics, along with Kenneth Arrow, for his development of general equilibrium theory and welfare theory. During his career, he also conducted research on monetary policy, international trade and development economics. His well-known 1939 book "Value and Capital" dealt with value theory and general equilibrium theory.

Investopedia explains 'John R. Hicks'


Hicks was born in England in 1904 and died in 1989. He taught at the London School of Economics, the University of Manchester and Oxford University. John Jicks is also known for his contribution to the IS/LM model which depicts the relationship between interest rates and real output, which was used to create subsequent models of aggregate demand and supply.



comments powered by Disqus
Hot Definitions
  1. National Best Bid and Offer - NBBO

    A term applying to the SEC requirement that brokers must guarantee customers the best available ask price when they buy securities and the best available bid price when they sell securities.
  2. Maintenance Margin

    The minimum amount of equity that must be maintained in a margin account. In the context of the NYSE and FINRA, after an investor has bought securities on margin, the minimum required level of margin is 25% of the total market value of the securities in the margin account.
  3. Leased Bank Guarantee

    A bank guarantee that is leased to a third party for a specific fee. The issuing bank will conduct due diligence on the creditworthiness of the customer looking to secure a bank guarantee, then lease a guarantee to that customer for a set amount of money and over a set period of time, typically less than two years.
  4. Degree Of Financial Leverage - DFL

    A ratio that measures the sensitivity of a company’s earnings per share (EPS) to fluctuations in its operating income, as a result of changes in its capital structure. Degree of Financial Leverage (DFL) measures the percentage change in EPS for a unit change in earnings before interest and taxes (EBIT).
  5. Jeff Bezos

    Self-made billionaire Jeff Bezos is famous for founding online retail giant Amazon.com.
  6. Re-fracking

    Re-fracking is the practice of returning to older wells that had been fracked in the recent past to capitalize on newer, more effective extraction technology. Re-fracking can be effective on especially tight oil deposits – where the shale products low yields – to extend their productivity.
Trading Center