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Alexander Henderson, "Consumer's surplus and the compensating variation", 
Review of Economic Studies, Vol. 8, No. 2., 1941, pp. 117-121. 
 
In this note Henderson showed that John Hicks's concept of compensating 
variation was different than Marshall's consumer's surplus. Hicks later 
wrote that "true discoverer of [compensating variation and equivalent 
variation] was Alexander Henderson" (Wealth and Welfare, Basil Blackwell, 
Oxford, 1981, p. 114). 
 
Hicks also noted: "Henderson, who studied at Cambridge 1933-6, had been one 
of the most brilliant students of economics in that university in those 
critical days. He taught at Edinburgh before the war and at Manchester 
after it, but his career as a teacher was interrupted by a long period of 
service in the British army. In 1950 he left for America, where he died in 
1954 in Pittsburgh, at the early age of 39" (Wealth and Welfare, p. 114, 
n.3). 
 
Michal Brzezinski, Ph.D. Student 
Warsaw University 
 
 
 
 
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