Trygve Haavelmo |
[An updated version of this biography can be found at Trygve Haavelmo in the 2nd edition.]
In 1989 Norwegian economist Trygve Haavelmo was awarded the Nobel Prize for his pioneering work in the forties in econometrics. He made two main contributions in econometrics. The first was a 1943 article that showed some of the statistical implications of simultaneous equations. The second was a 1944 article that based econometrics more firmly on probability theory.
During the war years Haavelmo worked for the Norwegian government in the United States. He was a professor of economics at the University of Oslo from 1948 until his retirement in 1979.
Selected Works
"The Probability Approach in Econometrics." Supplement to Econometrica 12 (July 1944): S1-115.
"The Statistical Implications of a System of Simultaneous Equations." Econometrica 11 (January 1943): 1-12.
A Study in the Theory of Investment. 1960.
SHARE
The cuneiform inscription in the Liberty Fund logo is the earliest-known written appearance of the word "freedom" (amagi), or "liberty." It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.