Jacob Marschak

Jacob Marschak (23 July 1898 – 27 July 1977) was an American economist.

Jacob Marschak
Born(1898-07-23)23 July 1898
Kiev, Russian Empire
Died27 July 1977(1977-07-27) (aged 79)
Los Angeles, U.S.
NationalityAmerican
Alma materUniversity of Heidelberg
Known forElasticity of demand
Early econometrics
Choice under uncertainty
Scientific career
FieldsEconomics
InstitutionsCowles Commission
University of Chicago
Doctoral advisorEmil Lederer
Doctoral studentsLeonid Hurwicz
Harry Markowitz
Franco Modigliani

Life

Born in a Jewish family of Kiev, Jacob Marschak (until 1933 Jakob) was the 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. With the gathering Nazi storm, he emigrated 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 cardiac arrest.

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

Major publications

Books
  • Marschak, Jacob (1930). Die Lohndiskussion. J.C.B. Mohr (Paul Siebeck) Tübingen.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1931). Elastizität der Nachfrage. Zur empirischen Feststellung relativer Marktkonstanten durch Beobachtung von Haushalt, Betrieb und Markt. J.C.B. Mohr (Paul Siebeck) Tübingen.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Lederer, Emil (1937). The new middle class. Isha Books. ISBN 9789332875661.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1954). Three lectures on probability in the social sciences. Chicago: Cowles Commission for Research in Economics. OCLC 760721040.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Radner, Roy (1972). Economic theory of teams.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974). Economics, information, decision and prediction, Selected Essays, 3 Volumes. Reidel: Dordrecht and Boston, MA. ISBN 9789027711960.CS1 maint: ref=harv (link)

Chapters in books
  • Marschak, Jacob; Lederer, Emil, "Der neue Mittelstand", in Lederer, Jacob (ed.), Grundriss der Sozialökonomik, IX, Abteilung, I. Teil, J.C.B. Mohr (Paul Siebeck) Tübingen 1926, Forgotten Books (reprinted), ISBN 9780364940488.CS1 maint: ref=harv (link)
Translates as:Marschak, Jacob; Lederer, Emil, "New middle class", in Lederer, Jacob (ed.), New middle class, Isha Books, ISBN 9789332875661.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1951), "Why "should" statisticians and businessmen maximize "moral expectation"?", in California Press, University of (ed.), Proceedings of the second Berkeley symposium on mathematical statistics and probability, Berkeley, California: University of California Press, pp. 493–506.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1954), "Towards an economic theory of organization and information", in Thrall, Robert McDowell (ed.), Decision Processes, New York: Wiley, OCLC 639321.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Radner, Roy (1954), "Note on some proposed decision criteria", in Thrall, Robert McDowell (ed.), Decision Processes, New York: Wiley, OCLC 639321.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1960), "Binary-choice constraints and random utility indicators", in Arrow, Kenneth J.; Karlin, Samuel; Suppes, Patrick (eds.), 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.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Davidson, D. (1971), "Experimental tests of a Stochastic decision theory", in Churchman, Ratoosh (ed.), Measurement definitions and theories, Elsevier, ISBN 9780720431902.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Introductory note", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 3–4, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Towards an economic theory of organization and information (1954)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 29–62, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Elements for a theory of teams (1955)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 63–76, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Efficient and viable organizational forms (1959)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 77–90, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Remarks on the economics of information (1959)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 91–117, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Theory of an efficient several person firm (1960)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 118–125, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Problems in information economics (1964)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 126–164, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "The cost of decision making: an interdisciplinary discussion (1956)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 165–182, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Economics of language (1965)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 183–192, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Economic planning and the cost of thinking (1966)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 193–200, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Economics of inquiring, communicating, deciding (1968)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 250–269, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Economics of information systems (1971)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 270–341, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974), "Optimal systems for information and decision (1972)", in Marschak, Jacob (ed.), Economic, information, decision and prediction, pp. 342–355, ISBN 9789027711960.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1960), "Random orderings and Stochastic theories of responses", in Block, H.D. (ed.), Contributions to probability and statistics.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1960), "Remarks on the economics of information", in LastName, FirstName (ed.), Contributions to scientific research in management.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1960), "Binary-choice constraints and random utility indicators", in Arrow, Kenneth J.; Karlin, Samuel; Suppes, Patrick (eds.), 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.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1971), "Economics and information systems", in Intriligator, Michael; Kendrick, David A. (eds.), Frontiers of quantitative economics, Elsevier, ISBN 9780720431902.CS1 maint: ref=harv (link)

Journal articles
  • Marschak, Jacob (1923). "Wirtschaftsrechnung und Gemeinwirtschaft". Archiv für Sozialwissenschaft.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1930). "Das Kaufkraft-Argument in der Lohnpolitik". Magazin der Wirtschaft.CS1 maint: ref=harv (link)
  • Marschak, Jacob (October 1933). "Annual survey of statistical information: the branches of national spending". Econometrica. 1 (4): 373–386. doi:10.2307/1907329. JSTOR 1907329.CS1 maint: ref=harv (link)
  • Marschak, Jacob (October 1938). "Money and the theory of assets". Econometrica. 6 (4): 311–325. doi:10.2307/1905409. JSTOR 1905409.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Makower, H. (August 1938). "Assets, prices and monetary theory". Economica. 5 (19): 261–288. doi:10.2307/2548629. JSTOR 2548629.CS1 maint: ref=harv (link)
  • Marschak, Jacob (June 1941). "A discussion on methods in economics". The Journal of Political Economy. The University of Chicago Press via JSTOR. 49 (3): 441–448. doi:10.1086/255725. JSTOR 1824738. S2CID 154589379.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Andrews, William H. (October 1944). "Random simultaneous equations and the theory of production". Econometrica. 12 (3–4): 143–205. doi:10.2307/1905432. JSTOR 1905432.CS1 maint: ref=harv (link)
  • Marschak, Jacob (June 1945). "A cross-section of business cycle discussion". The American Economic Review. American Economic Association via JSTOR. 35 (3): 368–381. JSTOR 1811447.CS1 maint: ref=harv (link)
  • Marschak, Jacob (April 1946). "Neumann's and Morgenstern's New Approach to Static Economics". The Journal of Political Economy. 54 (2): 97–115. doi:10.1086/256327. JSTOR 1825790. S2CID 154536775.CS1 maint: ref=harv (link)
  • Marschak, Jacob (November 1947). "On mathematics for economists". Review of Economics and Statistics. 29 (4): 269–273. doi:10.2307/1927826. JSTOR 1927826.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1949). "Statistical inference from non-experimental observation: an economic example". In Proceedings of the International Statistical Conference Held in Washington, DC, September 6–18, 1947. 3: 289–296.CS1 maint: ref=harv (link) Pdf version.
  • Marschak, Jacob (May 1949). "Role of liquidity under complete and incomplete information". The American Economic Review, Papers and Proceedings of the Sixty-first Annual Meeting of the American Economic Association. The American Economic Association via JSTOR. 39 (3): 182–195. JSTOR 1831743.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Arrow, Kenneth J.; Harris, Theodore (July 1951). "Optimal inventory policy". Econometrica. 19 (3): 250–272. doi:10.2307/1906813. JSTOR 1906813.CS1 maint: ref=harv (link)
  • Marschak, Jacob (January 1955). "Elements for a theory of teams". Management Science. 1 (2): 127–137. doi:10.1287/mnsc.1.2.127.CS1 maint: ref=harv (link)
  • Marschak, Jacob; Block, H.D. (1960). "An identity in arithmetic". Bulletin of the American Mathematical Society. 65 (3): 123–124. doi:10.1090/S0002-9904-1959-10287-1.CS1 maint: ref=harv (link)
  • Marschak, Jacob (May 1960). "Theory of an efficient several-person firm". The American Economic Review, Papers and Proceedings of the Seventy-second Annual Meeting of the American Economic Association. American Economic Association via JSTOR. 50 (2): 541–548. JSTOR 1815057.CS1 maint: ref=harv (link)
  • Marschak, Jacob (May 1968). "Economics of inquiring, communicating, deciding". The American Economic Review, Papers and Proceedings of the Eightieth Annual Meeting of the American Economic Association. American Economic Association via JSTOR. 58 (2): 1–18. JSTOR 1831792.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974). Rational behavior, uncertain prospects and measurable utility (1950). Economic Information, Decision, and Prediction: Selected Essays: Volume I Part I Economics of Decision. 7. Springer. pp. 5–39. doi:10.1007/978-94-010-9276-0_2. ISBN 978-90-277-1195-3.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974). "Efficient and viable organizational forms (1959)". Economic Information, Decision, and Prediction. Economic Information, Decision, and Prediction: Selected Essays: Volume II Part II Economics of Decision. 7. Springer. pp. 77–90. doi:10.1007/978-94-010-9278-4_5. ISBN 978-90-277-1196-0.CS1 maint: ref=harv (link)
  • Marschak, Jacob (1974). "The Rationale of the Demand for Money and of 'Money Illusion'". The rationale of the demand for money and of "money illusion". Economic Information, Decision, and Prediction: Selected Essays: Volume III Part III Economics of Decision. 7. Springer. pp. 95–130. doi:10.1007/978-94-010-9280-7_6. ISBN 978-90-277-1197-7.CS1 maint: ref=harv (link)

Honours
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