Mathematical psychics: An essay on the application of mathematics to the moral sciences
London, 1881
Abstract
In Mathematical Psychics (1881), F. Y. Edgeworth investigates the application of mathematical methods—particularly the calculus of variations and dynamical maximum principles—to the moral sciences, dividing the field into an economical calculus and a utilitarian calculus. He argues that mathematical reasoning does not require precise numerical data to be valid, demonstrating that deductive analysis can proceed from general quantitative properties such as diminishing marginal utility and increasing fatigue, analogous to maximum energy principles in physics. In the economical section, Edgeworth models bargaining and exchange between self-interested individuals using indifference curves and introduces the concept of the contract curve. He demonstrates that whereas contract in a perfect market with an indefinite multiplicity of competitors is determinate, contract under conditions of imperfect competition—such as limited numbers of dealers, trade combinations, or collective associations—is indeterminate, yielding multiple possible final settlements and creating deadlocks that necessitate principles of arbitration. In the utilitarian calculus, Edgeworth proposes the maximization of aggregate happiness across sentients as the rational basis for resolving this indeterminateness. Treating pleasure as a measurable quantity across intensity, time, and number, he examines the optimal distribution of means, labor, and population. From these models, he deduces that the greatest total utility requires assigning resources and work according to differing individual capacities for pleasure and effort, concluding that utilitarianism does not inherently mandate equal distribution among sentients who differ in their capacity for happiness. – AI-generated abstract.
