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Jacob Marschak

Jacob Marschak
Born (1898-07-23)23 July 1898
Kiev, Imperial Russia
Died 27 July 1977(1977-07-27) (aged 79)
Los Angeles, U.S.
Nationality American
Fields Economics
Institutions Cowles Commission
University of Chicago
Alma mater University of Heidelberg
Doctoral advisor Emil Lederer
Doctoral students Leonid Hurwicz
Harry Markowitz
Franco Modigliani
Known for Elasticity of demand
Early econometrics
Choice under uncertainty

Jacob Marschak (23 July 1898 – 27 July 1977) was a Russian-American economist, known as "the Father of Econometrics".

Contents

  • Life 1
  • Major publications 2
  • Honours 3
  • External links 4

Life

Jacob Marschak (until 1933 Jakob) was born in Kiev as a son of a jeweller. During his studies he joined the social democratic Menshevik Party, becoming a member of the Menshevik International Caucus. In 1918 he was the labor minister in the Terek Soviet Republic. In 1919 he emigrated to Germany, where he studied at the University of Berlin and the University of Heidelberg.

In 1922–1926 he was a journalist, and in 1928 he joined the new Kiel Institut für Weltwirtschaft. Since he could not become a full professor because of his Jewish origin, he emigrated again to England, where he went to Oxford to teach at the Oxford Institute of Statistics, which was funded by the Rockefeller Foundation, allowing him to emigrate in 1940 to the USA. After teaching at the New School for Social Research, in 1943 he went to University of Chicago, where he led the Cowles Commission. He followed the Commission's move to Yale University, then became emeritus at UCLA.

In 1972 he co-founded Team Theory with Roy Radner.

Marschak was fluent in approximately one dozen languages. Shortly before he was due to become president of the American Economic Association, he died from a stroke.

UCLA sponsors the recurring Jacob Marschak Interdisciplinary Colloquium on Mathematics in the Behavior Sciences.

Major publications

Books

  • Marschak, Jacob (1930). Die lohndiskussion. 
  • Marschak, Jacob (1931). Elastizität der nachfrag. 
  • Marschak, Jacob; Lederer, Emil (1937). The new middle class. Isha Books.  
  • Marschak, Jacob (1954). Three lectures on probability in the social sciences. Chicago: Cowles Commission for Research in Economics.  
  • Marschak, Jacob;  
  • Marschak, Jacob (1974). Economic, information, decision and prediction.  

Chapters in books

  • Marschak, Jacob; Lederer, Emil, "Der neue mittelstand", in LastName, FirstNam, Grundriss der Nationalökonomik. 
Translates as:Marschak, Jacob; Lederer, Emil, "Tne new middle class", in LastName, FirstName, WPA, Isha Books,  
  • Marschak, Jacob (1951), "Why "should" statisticians and businessmen maximize "moral expectation"?", in California Press, University of, Proceedings of the second Berkeley symposium on mathematical statistics and probability, Berkeley, California: University of California Press, pp. 493–506. 
  • Marschak, Jacob (1954), "Towards an economic theory of organization and information", in Thrall, Robert McDowell, Decision Processes, New York: Wiley,  
  • Marschak, Jacob;  
  • Marschak, Jacob (1960), "Binary-choice constraints and random utility indicators", in  
  • Marschak, Jacob; Davidson, D. (1971), "Experimental tests of a Stochastic decision theory", in Ratoosh, Measurement definitions and theories, Elsevier,  
  • Marschak, Jacob (1974), "Introductory note", in Marschak, Jacob, Economic, information, decision and prediction, pp. 3–4,  
  • Marschak, Jacob (1974), "Towards an economic theory of organization and information (1954)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 29–62,  
  • Marschak, Jacob (1974), "Elements for a theory of teams (1955)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 63–76,  
  • Marschak, Jacob (1974), "Efficient and viable organizational forms (1959)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 77–90,  
  • Marschak, Jacob (1974), "Remarks on the economics of information (1959)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 91–117,  
  • Marschak, Jacob (1974), "Theory of an efficient several person firm (1960)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 118–125,  
  • Marschak, Jacob (1974), "Problems in information economics (1964)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 126–164,  
  • Marschak, Jacob (1974), "The cost of decision making: an interdisciplinary discussion (1956)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 165–182,  
  • Marschak, Jacob (1974), "Economics of language (1965)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 183–192,  
  • Marschak, Jacob (1974), "Economic planning and the cost of thinking (1966)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 193–200,  
  • Marschak, Jacob (1974), "Economics of inquiring, communicating, deciding (1968)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 250–269,  
  • Marschak, Jacob (1974), "Economics of information systems (1971)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 270–341,  
  • Marschak, Jacob (1974), "Optimal systems for information and decision (1972)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 342–355,  
  • Marschak, Jacob (1960), "Random orderings and Stochastic theories of responses", in Block, H.D., Contributions to probability and statistics. 
  • Marschak, Jacob (1960), "Remarks on the economics of information", in LastName, FirstName, Contributions to scientific research in management. 
  • Marschak, Jacob (1960), "Binary-choice constraints and random utility indicators", in  
  • Marschak, Jacob (1971), "Economics and information systems", in Intriligator, Michael; Kendrick, David A., Frontiers of quantitative economics, Elsevier,  

Journal articles

  • Marschak, Jacob (1923). "Wirtschaftsrechnung und Gemeinwirtschaft". Archiv für Sozialwissenschaft. 
  • Marschak, Jacob (1930). "Das Kaufkraft-Argument in der Lohnpolitik". Magazin der Wirtschaft. 
  • Marschak, Jacob (October 1933). "Annual survey of statistical information: the branches of national spending".  
  • Marschak, Jacob (October 1938). "Money and the theory of assets".  
  • Marschak, Jacob; Makower, H. (August 1938). "Assets, prices and monetary theory". Economica (Wiley via JSTOR) 5 (19): 261–288.  
  • Marschak, Jacob (June 1941). "A discussion on methods in economics". The Journal of Political Economy (The University of Chicago Press via JSTOR) 49 (3): 441–448.  
  • Marschak, Jacob; Andrews, William H. (October 1944). "Random simultaneous equations and the theory of production".  
  • Marschak, Jacob (June 1945). "A cross-section of business cycle discussion". The American Economic Review (American Economic Association via JSTOR) 35 (3): 368–381.  
  • Marschak, Jacob (April 1946). "Neumann's and Morgenstern's New Approach to Static Economics". The Journal of Political Economy (The University of Chicago Press via JSTOR) 54 (2): 97–115.  
  • Marschak, Jacob (November 1947). "On mathematics for economists". Review of Economic and Statistics (The MIT Press via JSTOR) 29 (4): 269–273.  
  • Marschak, Jacob (1949). "Statistical inference from non-experimental observation: an economic example". In Proceedings of the International Statistical Conference Held in Washington, DC, September 6-18, 1947 3: 289–296.  Pdf version.
  • Marschak, Jacob (May 1949). "Role of liquidity under complete and incomplete information". The American Economic Review, Papers and Proceedings of the Sixty-first Annual Meeting of the American Economic Association (The American Economic Association via JSTOR) 39 (3): 182–195.  
  • Marschak, Jacob;  
  • Marschak, Jacob (January 1955). "Elements for a theory of teams". Management Science 1 (2): 127–137.  
  • Marschak, Jacob; Block, H.D. (1960). "An identity in arithmetic". Bulletin of the American Mathematical Society 65 (3): 123–124.  
  • Marschak, Jacob (May 1960). "Theory of an efficient several-person firm". The American Economic Review, Papers and Proceedings of the Seventy-second Annual Meeting of the American Economic Association (American Economic Association via JSTOR) 50 (2): 541–548.  
  • Marschak, Jacob (May 1968). "Economics of inquiring, communicating, deciding". The American Economic Review, Papers and Proceedings of the Eightieth Annual Meeting of the American Economic Association (American Economic Association via JSTOR) 58 (2): 1–18.  
  • Marschak, Jacob (1974). "Rational behavior, uncertain prospects and measurable utility (1950)". Economic Information, Decision, and Prediction: Selected Essays: Volume I Part I Economics of Decision (Springer) 7 (1): 5–39.  
  • Marschak, Jacob (1974). "Efficient and viable organizational forms (1959)". Economic Information, Decision, and Prediction: Selected Essays: Volume II Part II Economics of Decision (Springer) 7 (2): 77–90.  
  • Marschak, Jacob (1974). """The rationale of the demand for money and of "money illusion. Economic Information, Decision, and Prediction: Selected Essays: Volume III Part III Economics of Decision (Springer) 7 (3): 95–130.  

Honours

External links

  • Biography at HET
  • Biography at Yale
  • National Academy of Sciences Biographical Memoir
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