Harry Markowitz

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

Life

Harry Markowitz was born as the son of Jewish couple Morris and Mildred Markowitz in Chicago. He studied economics at the university and learned important economists such as Milton Friedman, Tjalling Koopmans, Jacob Marshak and Leonard Savage know.

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

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

On July 17, 1962, he co-founded with Herb Karr the California Analysis Center, Inc., which later CACI International was.

In 1989 he was awarded the John von Neumann Theory Prize.

He was honored in 1990 for his theory of portfolio selection with the Nobel Prize in Economics, along with Merton H. Miller and William Sharpe.

Works (selection)

  • Portfolio Selection, 1952: http://cowles.econ.yale.edu/P/cp/p00b/p0060.pdf
  • Foundations of Portfolio Theory, 1991
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