The Econometric Society is an international society of academic economists interested in applying statistical tools in the practiced of econometrics. It is an independent organization with no connections to societies of professional mathematicians or statisticians.
It was founded on December 29, 1930, at the Statler Hotel in Cleveland, Ohio. Its first president was Irving Fisher.
As of 2014, there are about 700 Elected Fellows of the Econometric Society, making it one of the most prevalent research affiliations.[failed verification] New fellows are elected each year by the current fellows.
The sixteen founding members were Ragnar Frisch, Charles F. Roos, Joseph A. Schumpeter, Harold Hotelling, Henry Schultz, Karl Menger, Edwin B. Wilson, Frederick C. Mills, William F. Ogburn, J. Harvey Rogers, Malcolm C. Rorty, Carl Snyder, Walter A. Shewhart, Øystein Ore, Ingvar Wedervang and Norbert Wiener.
The Econometric Society sponsors the Economics academic journal Econometrica and publishes the journals Theoretical Economics and Quantitative Economics.
The Econometric Society is led by a president, who serves a one-year term. Election as a Fellow of the Econometric Society is considered by much of the economics profession to be an honor.
The Econometric Society sponsors several annual awards, in which the honored member delivers a lecture: