Jacob Marschak
American economist (1898-1977)
Jacob Marschak
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Born |
(
1898-07-23
)
23 July 1898
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Died |
27 July 1977
(1977-07-27)
(aged
79)
Los Angeles, California
, U.S.
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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 .
Life
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 in 1939 to the United States. [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.
Major publications
Books
- Marschak, Jacob (1930). Die Lohndiskussion . J.C.B. Mohr (Paul Siebeck) Tübingen.
- Marschak, Jacob (1931). Elastizität der Nachfrage. Zur empirischen Feststellung relativer Marktkonstanten durch Beobachtung von Haushalt, Betrieb und Markt . J.C.B. Mohr (Paul Siebeck) Tübingen.
- Marschak, Jacob; Lederer, Emil (1937). The new middle class . Isha Books. ISBN 9789332875661 .
- Marschak, Jacob (1954). Three lectures on probability in the social sciences . Chicago: Cowles Commission for Research in Economics. OCLC 760721040 .
- Marschak, Jacob; Radner, Roy (1972). Economic theory of teams .
- Marschak, Jacob (1974). Economics, information, decision and prediction, Selected Essays, 3 Volumes . Reidel: Dordrecht and Boston, MA. ISBN 9789027711960 .
Chapters in books
- Marschak, Jacob; Lederer, Emil (18 March 2018), "Der neue Mittelstand", in Lederer, Jacob (ed.), Grundriss der Sozialökonomik, IX, Abteilung, I. Teil, J.C.B. Mohr (Paul Siebeck) Tübingen 1926 , Forgotten Books (reprinted), ISBN 9780364940488 .
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- Translates as: Marschak, Jacob; Lederer, Emil, "New middle class", in Lederer, Jacob (ed.), New middle class , Isha Books, ISBN 9789332875661 .
- Marschak, Jacob (1951), "Why "should" statisticians and businessmen maximize "moral expectation"?", in California Press, University of (ed.), Proceedings of the second Berkeley symposium on mathematical statistics and probability , vol. 2, Berkeley, California: University of California Press, pp. 493–506.
- Marschak, Jacob (1954), "Towards an economic theory of organization and information", in Thrall, Robert McDowell (ed.), Decision Processes , New York: Wiley, OCLC 639321 .
- Marschak, Jacob; Radner, Roy (1954), "Note on some proposed decision criteria", in Thrall, Robert McDowell (ed.), Decision Processes , New York: Wiley, OCLC 639321 .
- Marschak, Jacob (1960), "Binary-choice constraints and random utility indicators", in Arrow, Kenneth J. ; Karlin, Samuel ; Suppes, Patrick (eds.), Mathematical models in the social sciences, 1959: Proceedings of the first Stanford symposium , Stanford mathematical studies in the social sciences, IV, Stanford, California: Stanford University Press, pp. 312–329, ISBN 9780804700214 .
- Marschak, Jacob; Davidson, D. (1971), "Experimental tests of a Stochastic decision theory", in Churchman, Ratoosh (ed.), Measurement definitions and theories , Elsevier, ISBN 9780720431902 .
- Marschak, Jacob (1974), "Introductory note", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 3–4, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Towards an economic theory of organization and information (1954)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 29–62, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Elements for a theory of teams (1955)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 63–76, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Efficient and viable organizational forms (1959)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 77–90, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Remarks on the economics of information (1959)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 91–117, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Theory of an efficient several person firm (1960)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 118–125, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Problems in information economics (1964)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 126–164, ISBN 9789027711960 .
- Marschak, Jacob (1974), "The cost of decision making: an interdisciplinary discussion (1956)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 165–182, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Economics of language (1965)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 183–192, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Economic planning and the cost of thinking (1966)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 193–200, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Economics of inquiring, communicating, deciding (1968)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 250–269, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Economics of information systems (1971)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 270–341, ISBN 9789027711960 .
- Marschak, Jacob (1974), "Optimal systems for information and decision (1972)", in Marschak, Jacob (ed.), Economic, information, decision and prediction , pp. 342–355, ISBN 9789027711960 .
- Marschak, Jacob (1960), "Random orderings and Stochastic theories of responses", in Block, H.D. (ed.), Contributions to probability and statistics .
- Marschak, Jacob (1960), "Remarks on the economics of information", in LastName, FirstName (ed.), Contributions to scientific research in management .
- Marschak, Jacob (1960), "Binary-choice constraints and random utility indicators", in Arrow, Kenneth J. ; Karlin, Samuel ; Suppes, Patrick (eds.), Mathematical models in the social sciences, 1959: Proceedings of the first Stanford symposium , Stanford mathematical studies in the social sciences, IV, Stanford, California: Stanford University Press, pp. 312–329, ISBN 9780804700214 .
- Marschak, Jacob (1971), "Economics and information systems", in Intriligator, Michael; Kendrick, David A. (eds.), Frontiers of quantitative economics , Elsevier, ISBN 9780720431902 .
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". Econometrica . 1 (4): 373–386. doi : 10.2307/1907329 . JSTOR 1907329 .
- Marschak, Jacob (October 1938). "Money and the theory of assets". Econometrica . 6 (4): 311–325. doi : 10.2307/1905409 . JSTOR 1905409 .
- Marschak, Jacob; Makower, H. (August 1938). "Assets, prices and monetary theory". Economica . 5 (19): 261–288. doi : 10.2307/2548629 . JSTOR 2548629 .
- 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. doi : 10.1086/255725 . JSTOR 1824738 . S2CID 154589379 .
- Marschak, Jacob; Andrews, William H. (October 1944). "Random simultaneous equations and the theory of production". Econometrica . 12 (3–4): 143–205. doi : 10.2307/1905432 . JSTOR 1905432 .
- Marschak, Jacob (June 1945). "A cross-section of business cycle discussion". The American Economic Review . American Economic Association via JSTOR. 35 (3): 368–381. JSTOR 1811447 .
- Marschak, Jacob (April 1946). "Neumann's and Morgenstern's New Approach to Static Economics". The Journal of Political Economy . 54 (2): 97–115. doi : 10.1086/256327 . JSTOR 1825790 . S2CID 154536775 .
- Marschak, Jacob (November 1947). "On mathematics for economists". Review of Economics and Statistics . 29 (4): 269–273. doi : 10.2307/1927826 . JSTOR 1927826 .
- 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. JSTOR 1831743 .
- Marschak, Jacob; Arrow, Kenneth J. ; Harris, Theodore (July 1951). "Optimal inventory policy". Econometrica . 19 (3): 250–272. doi : 10.2307/1906813 . JSTOR 1906813 .
- Marschak, Jacob (January 1955). "Elements for a theory of teams". Management Science . 1 (2): 127–137. doi : 10.1287/mnsc.1.2.127 .
- Marschak, Jacob; Block, H.D. (1960). "An identity in arithmetic" . Bulletin of the American Mathematical Society . 65 (3): 123–124. doi : 10.1090/S0002-9904-1959-10287-1 .
- 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. JSTOR 1815057 .
- 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. JSTOR 1831792 .
- 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 . Vol. 7. Springer. pp. 5–39. doi : 10.1007/978-94-010-9276-0_2 . ISBN 978-90-277-1195-3 .
- Marschak, Jacob (1974). "Efficient and viable organizational forms (1959)". Economic Information, Decision, and Prediction . Economic Information, Decision, and Prediction: Selected Essays: Volume II Part II Economics of Decision . Vol. 7. Springer. pp. 77–90. doi : 10.1007/978-94-010-9278-4_5 . ISBN 978-90-277-1196-0 .
- Marschak, Jacob (1974). "The Rationale of the Demand for Money and of 'Money Illusion' ". 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 . Vol. 7. Springer. pp. 95–130. doi : 10.1007/978-94-010-9280-7_6 . ISBN 978-90-277-1197-7 .
Honours
- 1946 President of the Econometric Society
- 1963 Honorary Fellow of the Royal Statistical Society
- 1967 Distinguished Fellow of the American Economic Association
References
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"Noted Professor in UCLA Post"
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Los Angeles Evening Citizen
. Los Angeles, CA. 24 August 1960. p.
5
. Retrieved
26 April
2022
–
via
Newspapers.com
.
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1
2
3
4
"Jacob Marschak, Noted Economics Scholar, Dies"
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The Los Angeles Times
. Los Angeles, CA. 28 July 1977. p.
37
. Retrieved
25 April
2022
–
via
Newspapers.com
.
External links
- Biography at HET
- Biography at Yale
- Kenneth J. Arrow, "Jacob Marschak", Biographical Memoirs of the National Academy of Sciences (1991)
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