An ingenious theory of exchange was developed in Edgeworth’s work titledMathematical Psychics published in 1881. The theory, however, failed to beaccepted. Its core concepts such as ‘recontract’ and ‘final settlement’ had beendisregarded and forgotten until Shubik (1959) appreciated them. The failure ispartly ascribable to Edgeworth himself. He should have critically assorted andevaluated other theories of exchange in comparison with his. He should havefully explicated and elaborated his concepts in comparison with comparableones. Mathematical Psychics was deficient in putting forward the author’sextraordinary concepts and theory.