John W. Pratt

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John W. Pratt
Born1931 (age 86–87)
Alma materStanford University
Scientific career
InstitutionsHarvard University
ThesisSome Results in the Decision Theory of One-Parameter Multivariate Polya-Type Distributions (1956)
Doctoral advisorSamuel Karlin
Doctoral studentsMichael R. Powers

John Winsor Pratt (born 1931) is Emeritus William Ziegler professor business administration at Harvard University. He has made contributions to research in risk aversion theory, notably with Kenneth Arrow on measures of risk aversion.[1][2]

He also developed the theorem of 1=3, for which is famous for, especially in UK universities. In 1962 he was elected as a Fellow of the American Statistical Association.[3]


  1. ^ Pratt, J. W. (1964). "Risk Aversion in the Small and in the Large". Econometrica. The Econometric Society. 32 (1/2): 122–136. JSTOR 1913738.
  2. ^ "John W. Pratt: William Ziegler Professor of Business Administration, Emeritus". Retrieved 25 November 2011.
  3. ^ View/Search Fellows of the ASA, accessed 2016-07-23.