Jacob Marschak | |
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Born | |
Died | 27 July 1977 Los Angeles, California, U.S. | (aged 79)
Nationality | American |
Alma mater | University of Heidelberg |
Known for | Elasticity of demand Early econometrics Choice under uncertainty |
Scientific career | |
Fields | Economics |
Institutions | Cowles Commission University of Chicago |
Doctoral advisor | Emil Lederer |
Doctoral students | Leonid Hurwicz Harry Markowitz Franco Modigliani |
Jacob Marschak (23 July 1898 – 27 July 1977) was an American economist.
Born in a Jewish family of Kyiv,[1][2] Jacob Marschak (until 1933 Jakob) was the son of a jeweler. 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.[2]
From 1922 to 1926, he was a journalist, and in 1928, he joined the new Kiel Institut für Weltwirtschaft. With the gathering Nazi storm, he emigrated to England, where he went to Oxford to teach at the Oxford Institute of Statistics,[1] which was funded by the Rockefeller Foundation, allowing him to emigrate to the United States in 1939.[1] After teaching at the New School for Social Research, in 1943, he went to University of Chicago, where he led the Cowles Commission.[1] He followed the commission's move to Yale University,[1] and he then became a professor at UCLA in 1960.[1][2]
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 cardiac arrest.[2]
UCLA sponsors the recurring Jacob Marschak Interdisciplinary Colloquium on Mathematics in the Behavior Sciences.
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