Jacob Marschak

**Jacob Marschak**

Born	July 23, 1898 Kiev
Died	July 27, 1977 Los Angeles
Residence	USA
Nationality	Ukrainian
Field	Economics
Institution	Cowles Commission University of Chicago
Alma mater	University of Heidelberg
Academic advisor	Emil Lederer
Notable students	Harry Markowitz Franco Modigliani
Known for	Elasticity of demand Early econometrics Choice under uncertainty

Jacob Marschak (* 23 July 1898 Kiev, Ukraine; † 27 July 1977 Los Angeles, USA) was an American economist of Ukrainian origin.

Marschak together with Roy Radner is said to be the father of the economic theory of teams.

[edit] Life

Jakob Marschak (until 1933 Jakob) was born in Kiev as a son of a jeweller. During his studies he joined the social democratic party. In 1918 he was the minister for labor in the Soviet republic Terek, then he emigrated to Germany, where he studied in Berlin and Heidelberg.

From 1922 till 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. Because of that he could move again to the USA. Here he taught at New School for Social Research. Then in 1943 he went to University of Chicago, where he led the Cowles Commission. He followed the Commission's move to Yale and then became emeritus at University of California. Shortly before he should have become president of the American Economic Association he died from a stroke.