Jacob Marschak

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Jacob Marschak
Marschak.png
Born (1898-07-23)23 July 1898
Kiev, Imperial Russia
Died 27 July 1977(1977-07-27) (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 Russian-American economist, known as "the Father of Econometrics".

Life[edit]

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 USA. 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.

UCLA sponsors the recurring Jacob Marschak Interdisciplinary Colloquium on Mathematics in the Behavior Sciences.

Major publications[edit]

Books[edit]

  • Marschak, Jacob (1930). Die lohndiskussion. 
  • Marschak, Jacob (1931). Elastizität der nachfrag. 
  • 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). Economic, information, decision and prediction. ISBN 9789027711960. 

Chapters in books[edit]

  • Marschak, Jacob; Lederer, Emil, "Der neue mittelstand", in LastName, FirstNam, Grundriss der Nationalökonomik. 
Translates as:Marschak, Jacob; Lederer, Emil, "Tne new middle class", in LastName, FirstName, WPA, Isha Books, ISBN 9789332875661. 
  • Marschak, Jacob (1951), "Why "should" statisticians and businessmen maximize "moral expectation"?", in California Press, University of, Proceedings of the second Berkeley symposium on mathematical statistics and probability, Berkeley, California: University of California Press, pp. 493–506. 
  • Marschak, Jacob (1954), "Towards an economic theory of organization and information", in Thrall, Robert McDowell, Decision Processes, New York: Wiley, OCLC 639321. 
  • Marschak, Jacob; Radner, Roy (1954), "Note on some proposed decision criteria", in Robert McDowell, 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, 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 Ratoosh, Measurement definitions and theories, Elsevier, ISBN 9780720431902. 
  • Marschak, Jacob (1974), "Introductory note", in Marschak, Jacob, 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, Economic, information, decision and prediction, pp. 29–62, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Elements for a theory of teams (1955)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 63–76, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Efficient and viable organizational forms (1959)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 77–90, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Remarks on the economics of information (1959)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 91–117, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Theory of an efficient several person firm (1960)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 118–125, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Problems in information economics (1964)", in Marschak, Jacob, 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, Economic, information, decision and prediction, pp. 165–182, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Economics of language (1965)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 183–192, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Economic planning and the cost of thinking (1966)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 193–200, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Economics of inquiring, communicating, deciding (1968)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 250–269, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Economics of information systems (1971)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 270–341, ISBN 9789027711960. 
  • Marschak, Jacob (1974), "Optimal systems for information and decision (1972)", in Marschak, Jacob, Economic, information, decision and prediction, pp. 342–355, ISBN 9789027711960. 
  • Marschak, Jacob (1960), "Random orderings and Stochastic theories of responses", in Block, H.D., Contributions to probability and statistics. 
  • Marschak, Jacob (1960), "Remarks on the economics of information", in LastName, FirstName, Contributions to scientific research in management. 
  • Marschak, Jacob (1960), "Binary-choice constraints and random utility indicators", in Arrow, Kenneth J.; Karlin, Samuel; Suppes, Patrick, 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., Frontiers of quantitative economics, Elsevier, ISBN 9780720431902. 

Journal articles[edit]

Honours[edit]

External links[edit]