Harry Markowitz

from Wikipedia, the free encyclopedia

Harry Max Markowitz (born August 24, 1927 in Chicago , Illinois ) is an American economist .

Life

Harry Markowitz was born in Chicago to the Jewish couple Morris and Mildred Markowitz. He studied economics at the University of Chicago and met major economists such as Milton Friedman , Tjalling Koopmans , Jacob Marschak and Leonard Savage .

He also studied at the Aristotle University of Thessaloniki . As part of his doctoral thesis, he dealt with mathematical methods in the securities market .

From 1952 he worked at the RAND Corporation , where together with George Dantzig he developed calculation methods for the optimization of portfolios (see portfolio theory ), from which the capital market theory emerged. From 1955 to 1956 he worked for the Cowles Foundation at the invitation of James Tobin .

On July 17, 1962, he and Herb Karr founded the California Analysis Center, Inc. , which later became CACI International.

In 1987 Markowitz was elected to the American Academy of Arts and Sciences , in 1989 he received the John von Neumann Theory Prize .

He was awarded the Alfred Nobel Memorial Prize in Economics in 1990 for his theory of portfolio selection along with Merton H. Miller and William F. Sharpe .

Works (selection)

Web links