Andrew Chesher appointed as William Stanley Jevons Chair of Economics and Economic Measurement

Perhaps the most eminent figure to hold a professorship of economics at UCL was William Stanley Jevons (1835-1882), also earlier a student of the college. Often seen as the main British contributor to the marginalist revolution in economic thought of the 1870s, he challenged Ricardian ideas, seeking for instance to replace theories of value based on labour input with theories based on utility. In his support for the use of mathematical analysis in economics and in his practical use of economic statistics, he can be seen as one of the first exponents of recognisably modern econometric methods. Andrew Chesher’s standing in the profession and his contributions make him an extremely worthy holder of the William Stanley Jevons Chair of Economics and Economic Measurement.