Antoine Augustin Cournot 1801-1877
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Who was Antoine Augustin Cournot ? He Was born in Gray Haute Saone, in France. He was born in 1801. Augustin attended the secondary Collège de Gray between the years 1809 and 1816. As a young boy he was presented with many differing political and religious views from his family. He showed an interest in politics at a young age.
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After leaving school he spent four years in a lawyer's office but after he had read the correspondence between Gottfried Leibniz and Samuel Clarke he decided to enter university Cournot, along with his fellow student and friend Lejeune Dirichlet, was taught mathematics at the Sorbonne by Sylvestre Lacroix and Jean Hachette. He said this was the happiest time of his life. His doctorate in 1829 for a thesis Le mouvement d'un corps rigide soutenu par un plan fixe . Poisson was impressed with Cournot and, in 1833, he obtained a position for him with the Academy in Paris.
His Academic Career
He was offered to be a rector in Toulouse but refused. He worked in the Academy of Dijon as a rector. Worked in Dijon for 8 years. Retired in 1862 and moved to Paris where he spent the rest of his life.
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Cournot worked on determinism (in physics) and chance. Cournot united the concepts, defining randomness as the encounter of two independent causal series.
Cournot and Economics
He was the first to draw a demand curve. He was the first to solve profit-maximizing monopoly price and output. Pioneered comparative statics. -Tax Analysis.
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More For Economics
Pioneered industrial organization Duopoly and Oligopoly Theory (Game Theory). First to understand the double marginalization problem. First to use second order conditions as stability conditions in a dynamic game. Pioneered use of calculus and constrained optimization.
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-He died in Paris, France. -He died in 1877 at the age of 76. -Got understood long after his death.