Jacob Marschak
| Jacob Marschak | |
|---|---|
 |
|
| Born |
23 July 1898 Kiev, Russian Empire |
| Died | 27 July 1977 (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 Ukrainian-American economist, known as "the Father of Econometrics".
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 United States. 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.
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