Herman Wold
| Herman Wold | |
|---|---|
| Born |
25 December 1908 Skien, Norway |
| Died | 16 February 1992 (aged 83) |
| Nationality | Swedish |
| Fields |
Statistics Econometrics |
| Institutions | Uppsala University |
| Alma mater | |
| Doctoral advisor | Harald Cramér |
| Doctoral students |
Sten Malmquist Peter Whittle Karl Jöreskog |
| Known for |
Wold's theorem MA() representation of Wold decomposition (Operator theory) Cramér–Wold theorem Time series analysis Utility theory Consumer demand Latent variable Structural equation models Consistent least squares estimation of recursive triangular systems Causal inference in observational studies Partial least squares regression |
Herman Ole Andreas Wold (25 December 1908 – 16 February 1992) was a Norwegian-born econometrician and statistician who had a long career in Sweden. Wold was known for his work in mathematical economics, in time series analysis, and in econometric statistics.
In mathematical statistics, Wold contributed the Cramér–Wold theorem characterizing the normal distribution and developed the Wold decomposition in time series analysis. In microeconomics, Wold advanced utility theory and the theory of consumer demand. In multivariate statistics, Wold contributed the methods of partial least squares (PLS) and graphical models. Wold's work on causal inference from observational studies was decades ahead of its time, according to Judea Pearl.
Herman Wold had a long and productive career, spanning six decades.
In 1927 Wold enrolled at the to study mathematics. It was an opportune time, for Harald Cramér had been appointed Professor of Actuarial Mathematics and Mathematical Statistics. Wold would later write, "To belong to Cramér's first group of students was good luck, an advantage that simply cannot be exaggerated."
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